When it comes to trend analysis, one of my favorite tools is Andrews' Pitchfork which tends to give really good insight on the state of the trend.
I have to admit I had lots of trouble dealing with long term analysis of cryptocurrencies using pitchforks until I tried to display the charts in logarithmic scales.
When you think about it, it totally makes sense to use logarithmic scales for cryptocurrencies that are exposed to exponential moves on the upside or on the downside especially when you study long term charts.
As you can see, results I obtain with pitchforks applied to logarithmic charts look pretty consistent no matter what the price move is (upward, downward, correction, trend)
I have to admit I had lots of trouble dealing with long term analysis of cryptocurrencies using pitchforks until I tried to display the charts in logarithmic scales.
When you think about it, it totally makes sense to use logarithmic scales for cryptocurrencies that are exposed to exponential moves on the upside or on the downside especially when you study long term charts.
As you can see, results I obtain with pitchforks applied to logarithmic charts look pretty consistent no matter what the price move is (upward, downward, correction, trend)
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Here is another pitchfork I am closely watching for this current downtrend.노트
I have found that such analysis is even more precise when applied to the whole crypto marketcap노트
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Even more convinced of logarithmic charts
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해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.