Log scale is often dismissed by analyst but it some assets it's the main tool that provide a decent clarity of future price movements.
Looking at the log scale of BTC, it's clear that our recent bearish trend, or some may call it "the crash", was not too far from our expectations (see RSI).
I also predicted that price would go down to low 20's or may hit it's previous high of 17-19k. But even then, its movement is going to be within its upward channel, which has been tested a couple of times.
Now if it survives the next test, most likely it will, BTC would bounce back up and touch 250k or optimistically 400k by 2024.
So keep that in mind before selling, specially for a loss!
Looking at the log scale of BTC, it's clear that our recent bearish trend, or some may call it "the crash", was not too far from our expectations (see RSI).
I also predicted that price would go down to low 20's or may hit it's previous high of 17-19k. But even then, its movement is going to be within its upward channel, which has been tested a couple of times.
Now if it survives the next test, most likely it will, BTC would bounce back up and touch 250k or optimistically 400k by 2024.
So keep that in mind before selling, specially for a loss!
