BTC escape top indicator: Bitcoin Pi cycle top indicator update
This indicator shows: It is currently in a bull market equilibrium period, and it is recommended to continue holding.
Index ≥111DMA X 350DMA x2 Intersection Escape top warning
1/Since 2013, Pi Cycle Top Indicator has issued four Bitcoin top signals, each of which occurred within a few days of the main peak of Bitcoin prices.
These four signals occurred on April 5, 2013, December 3, 2013, December 16, 2017 and April 2021, respectively, and then the Bitcoin price fell by 65.50%, 86.11%, 84.03% and 52.94% respectively.
In this round, although the price of 73,000 of this indicator intersected (single line), the conditions did not trigger the warning (double line), so the indicator believes that the bull market is still continuing.
2/Indicator Description: This indicator uses two moving averages (MA): 111-day moving average (111DMA) and 350-day moving average multiplied by 2 (350DMA x2). When 111DMA crosses 350DMA x2, it triggers a "top signal", which historically indicates that the price of Bitcoin may have risen too quickly and may mark the peak of the market cycle.
Description: This indicator is a technical analysis tool based on historical price cycles to predict market tops. It has a high accuracy rate and can be judged as a warning signal for escaping the top when combined with other indicators for cross-validation.
