Ignore all indicators, just lines in log scale

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Well, as many of you knew the famous indicators & oscillators such as MACD , RSI , Stochastic , etc are all in overbought area. There is no reasons to continue analysing Bitcoin             by them.

Why not we back to the basic, technical analysis lesson 1 - trend line analysis.

I connected the top & bottom of the bars to see if any lines are valid (if the lines have been touched over 3 times more)
Let's see the parallel orange lines, the current price of this post is 16620, which is very close to the upper orange line.

Although the peak is most likely 22000 in this log chart, you are trading in the extension of this rising phrase if you rush into this market right now. My advice for you is manage your risk properly.

To all bitcoin             traders, enjoy your best ever Christmas this year. Protect your profit !!!

Related Ideas

Nice chart, just found this log graph line fit myself! And found this chart while googling this question... so who knows maybe you know the answer ;) Is there a way for TV to only show certain lines on log view and not normal view? Not there in Visibility settings. Seems like an obvious setting to have though...
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