Based on the Pi Cycle Bottom Indicator, in my analysis and opinion, there are signs that Bitcoin may have already reached its peak. The main point of concern is the white MAD line, which represents the difference between the long moving average (471) and the short moving average (150). Currently, this metric has started to reverse, which has historically signaled the beginning of a correction.
Another key factor is the 97 bars that have elapsed since the MAD started rising in the current cycle, reinforcing the possibility that the market has already peaked and is beginning a downtrend.
Additionally, the Hurst Cycle Channel Clone Oscillator [LazyBear] is showing signs of weakness, with a possible H&S (Head and Shoulders) pattern forming and the price remaining within a downtrend line (DTL), increasing the probability that we have already been in a bear market for several months.
The Stochastic indicator also supports this thesis, displaying the same patterns as previous cycles, where a strong drop followed a peak.
If this scenario is confirmed, we could be entering a prolonged bear market, similar to previous cycles. If we haven’t hit the top yet, we are likely to do so soon, which is why it’s wise to keep some cash reserves to take advantage of the next major buying opportunity.
Of course… a single tweet from Trump could completely wreck any analysis!
Stay tuned for the next market moves!
Another key factor is the 97 bars that have elapsed since the MAD started rising in the current cycle, reinforcing the possibility that the market has already peaked and is beginning a downtrend.
Additionally, the Hurst Cycle Channel Clone Oscillator [LazyBear] is showing signs of weakness, with a possible H&S (Head and Shoulders) pattern forming and the price remaining within a downtrend line (DTL), increasing the probability that we have already been in a bear market for several months.
The Stochastic indicator also supports this thesis, displaying the same patterns as previous cycles, where a strong drop followed a peak.
If this scenario is confirmed, we could be entering a prolonged bear market, similar to previous cycles. If we haven’t hit the top yet, we are likely to do so soon, which is why it’s wise to keep some cash reserves to take advantage of the next major buying opportunity.
Of course… a single tweet from Trump could completely wreck any analysis!
Stay tuned for the next market moves!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.