Bitcoin indicators are useful for knowing the market trend or estimating the bottom but they are very bad at determining the top because we break a new barrier. Given the changes in the market, predicting the top is almost impossible.
In general, the price will rise in the coming months and then we may see levels of $100,000.
Topic: The Bitcoin Pi Cycle Top Indicator trending UP for the first time in FOUR MONTHS (Read 67 times)
October 24, 2024, 02:29:20 AM
October 23, 2024, 01:33:15 PM
The problem with this indicator is that at some point it will not show the top because bitcoin will under perform and never go into a multi week parabolic rally, which is needed for the lines to cross.
Otherwise it's a good indicator, proven to work in the previous cycles, but let's imagine this time we go to $90k and that's it. You won't see the sign on the indicator. All these market prediction tools are only good for a time. At some point they stop working, or too many people would blindly rely on them and make money. Obviously all of us cannot make money. Some people, more like 90% will never be even moderately wealthy.
Otherwise it's a good indicator, proven to work in the previous cycles, but let's imagine this time we go to $90k and that's it. You won't see the sign on the indicator. All these market prediction tools are only good for a time. At some point they stop working, or too many people would blindly rely on them and make money. Obviously all of us cannot make money. Some people, more like 90% will never be even moderately wealthy.
October 23, 2024, 09:37:57 AM
Two years ago, I created a topic for discussion about it.
In a previous market cycle, this indicator gave nearly most accurate signal on Bitcoin top while many other indicators gave you much more higher prices for Bitcoin top.
The website bitcoinmagazinepro.com previously was Lookintobitcoin.com. Domain name changed or lookintobitcoin.com acquired by bitcoinmagazinepro.com. They have a combined Pi Cycle Top and Bottom, but for paid users.
In a previous market cycle, this indicator gave nearly most accurate signal on Bitcoin top while many other indicators gave you much more higher prices for Bitcoin top.
The website bitcoinmagazinepro.com previously was Lookintobitcoin.com. Domain name changed or lookintobitcoin.com acquired by bitcoinmagazinepro.com. They have a combined Pi Cycle Top and Bottom, but for paid users.
October 23, 2024, 09:13:28 AM
The Bitcoin Pi Cycle Top Indicator, which has historically been one of the most accurate BTC top timing metrics, is showing its 111DMA trending UP for the first time in FOUR MONTHS! 🧑🚀
Is this even more confirmation that we're about to see some fireworks in the BTC price?
Chart freely available here: https://www.bitcoinmagazinepro.com/charts/pi-cycle-top-indicator/
Bitcoin Price Prediction Using This Tool
The Pi Cycle Top Indicator forecasts the cycle top of Bitcoin’s market cycles. It attempts to predict the point where Bitcoin price will peak before pulling back. It does this on major high time frames and has picked the absolute tops of Bitcoin’s major price moves throughout most of its history.
How It Can Be Used
Pi Cycle Top is useful to indicate when the market is very overheated. So overheated that the shorter-term moving average, which is the 111-day moving average, has reached an x2 multiple of the 350-day moving average. Historically, it has proved advantageous to sell Bitcoin around this time in Bitcoin's price cycles.
It is also worth noting that this indicator has worked during Bitcoin's adoption growth phase, the first 15 years or so of Bitcoin's life. With the launch of Bitcoin ETF's and Bitcoin's increased integration into the global financial system, this indicator may cease to be relevant at some point in this new market structure.
Is this even more confirmation that we're about to see some fireworks in the BTC price?
Chart freely available here: https://www.bitcoinmagazinepro.com/charts/pi-cycle-top-indicator/
Bitcoin Price Prediction Using This Tool
The Pi Cycle Top Indicator forecasts the cycle top of Bitcoin’s market cycles. It attempts to predict the point where Bitcoin price will peak before pulling back. It does this on major high time frames and has picked the absolute tops of Bitcoin’s major price moves throughout most of its history.
How It Can Be Used
Pi Cycle Top is useful to indicate when the market is very overheated. So overheated that the shorter-term moving average, which is the 111-day moving average, has reached an x2 multiple of the 350-day moving average. Historically, it has proved advantageous to sell Bitcoin around this time in Bitcoin's price cycles.
It is also worth noting that this indicator has worked during Bitcoin's adoption growth phase, the first 15 years or so of Bitcoin's life. With the launch of Bitcoin ETF's and Bitcoin's increased integration into the global financial system, this indicator may cease to be relevant at some point in this new market structure.
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