To me it looks like bitcoin is on a large spike up which as always will eventually end at some unfathomable new high followed by extremely painful crash for those who bought in late. I don't think the top is in yet.
I've seen something similar before but i struggled to understand it. Sorry, I cant make sense of this, the chart seems pretty warped to me.
The ratio from $1 to $1200 takes up over 2/3 of the chart, and $1200 up to $17,000 is only 20% of the chart.
Am i missing something?
Sorry, hope you can help me get my head around it.
on 2014-04-08 It had the first rally, before correcting once and then going up for a big rally and touching the top of the channel, then entering a 2 year bear market.
What we have here, may be that first rally.
Showing my ignorance, your using Log scaling.