BTCUSD: Whats about PiCycle? A bearish signal?
Updated
Hello my friends!
Today I would like to look at the other side: Many are still strongly bullish. And Bitcoin has developed perfectly.
B U T we should also always observe the other side and take it into our callculation. There is a Indicator called PiCycle indicator. It was been very accurate in the past. On 12 April 2021, we crossed the PiCycle. The Pi Cycle indicator has been quite effective so far in determining the tops. Of course, the current market situation cannot really be compared to 2013 and 2017, but still I wanted to point it out to you. In the case of bitcoin, the price movement of the last few weeks could indicate not only strength but also weakness (rising wedge). Especially the strong upswing of the alts in the last few days may also indicate a top.
I am not bearish yet, but just want to give you the hint to be careful and to protect your profits of the last days, weeks and months and not to gamble it away. So be watchful. We will soon see how valid the PiCycle Indikator is this time.
About PiCycle Indikator: It uses the 111 day moving average and 350x2 day moving average. For the past three market cycles, when the 111 MA moves up and crosses the 350MAx2 we see a correction. Pi Cycle Top is useful to indicate when the market is very overheated. So the question is, is the market really overheated yet? We will know more soon.
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Let's see what happens.
Happy trading. :-)
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Regardless of this, these charts are still valid:
My Post Nov 19, 2020
My Post Apr 15, 2019
Today I would like to look at the other side: Many are still strongly bullish. And Bitcoin has developed perfectly.
B U T we should also always observe the other side and take it into our callculation. There is a Indicator called PiCycle indicator. It was been very accurate in the past. On 12 April 2021, we crossed the PiCycle. The Pi Cycle indicator has been quite effective so far in determining the tops. Of course, the current market situation cannot really be compared to 2013 and 2017, but still I wanted to point it out to you. In the case of bitcoin, the price movement of the last few weeks could indicate not only strength but also weakness (rising wedge). Especially the strong upswing of the alts in the last few days may also indicate a top.
I am not bearish yet, but just want to give you the hint to be careful and to protect your profits of the last days, weeks and months and not to gamble it away. So be watchful. We will soon see how valid the PiCycle Indikator is this time.
About PiCycle Indikator: It uses the 111 day moving average and 350x2 day moving average. For the past three market cycles, when the 111 MA moves up and crosses the 350MAx2 we see a correction. Pi Cycle Top is useful to indicate when the market is very overheated. So the question is, is the market really overheated yet? We will know more soon.
--
Let's see what happens.
Happy trading. :-)
--
Regardless of this, these charts are still valid:
My Post Nov 19, 2020
My Post Apr 15, 2019
Comment
this was a 21% down. lets see. could go deeper. Comment
don't buy a falling knife. buy the dip. ma 100 is here...Comment
here a fist idea, where we could go. this was a higher low. so if we hold above 50400 its okay. otherwise i see this possible steps ...Comment
a second idea, where we could go. look at the green areas. the 1. green area is more likely.Comment
look at the volume areas. they give us an impressionComment
Comment
my new post shows the possible support zones imo ... have a look. thx.I will keep you informed.
Comment
chart update: we have seen a strong bullish candle today. this opens the way to a move up. the pi-cycle is back in the green zone. so we may have seen the first pi-cycle wave. look at the charts below ...Comment
update: current situation at the picycle ...Comment
Back to normal ... My current post:
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BTCINVESTING 😃
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Entrepreneur · Trader · Investor · Crypto since 2014
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BTCINVESTING 😃
---
Free Telegram Channels coming soon!
Twitter: twitter.com/BTCINVESTINGcom
Entrepreneur · Trader · Investor · Crypto since 2014
Trading experience for over 30 years
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