The main purpose of the Bitcoin Log chart is to understand that price action respects the 3 main Log levels, namely 0%, 50% and 100% in every bull cycle and bear cycle.
0% level is a good support price point and can be a good indicator of maximum allocation of Dollars into Bitcoin, while 100% can be a good trigger to sell the Bitcoin either back to Tether or to other Altcoins, based on the Bitcoin Dominance (BTC.D) chart
The next monthly candle on 1st Feb 2021 could shoot up if it opens above the 50% log level.
Watch out for the price to be around $105,000 in the next few months!
0% level is a good support price point and can be a good indicator of maximum allocation of Dollars into Bitcoin, while 100% can be a good trigger to sell the Bitcoin either back to Tether or to other Altcoins, based on the Bitcoin Dominance (BTC.D) chart
The next monthly candle on 1st Feb 2021 could shoot up if it opens above the 50% log level.
Watch out for the price to be around $105,000 in the next few months!