As I've said before, I love the logarithmic view of BTC. It gives a clearer indication of price increases alongside growth. Although inflation and value factors aren't physically calculated into the price, seeing the upwards curve makes more sense from a "holistic view" that would include things such as growth and inflation.
A logarithmic chart view displays price changes as a percentage of the previous price. This means that equal vertical distances on the chart represent equal percentage changes, regardless of the absolute price level. This is in contrast to a regular chart view, which displays price changes on an arithmetic scale. This means that equal vertical distances on the chart represent equal absolute price changes.
With help of technical indicator RSI, we can use the macro logarithmic together with the RSI as a sort of "roadmap" to identify the current dominant macro trend.
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We can use the same strategy to factor in pullbacks during an upwards cycle:
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BTC Macro view:
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With the BTC halving coming up, it's important to factor in for the possibility of lower trading for a period of time before the halving. Considering we are in a bullish cycle, a drop towards the lower support would still mean a higher low even though it seems far from where we are trading now. This snapshots shows a bullish cycle and a correction BEFORE the parabolic rally that leads up to the latest ATH. (Remember that the reason for that nasty drop was due to covid lockdowns):
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Considering the amount of consecutive weekly green candles, it's likely we'll see a correction soon:
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Latest BTC update here:
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BTC: If we close this week UNDER the yellow trendline, 39K becomes likely: