OPEN-SOURCE SCRIPT
Pi Cycle Bitcoin High/Low
Updated
The theory that a Pi Cycle Top might exist in the Bitcoin price action isn't new, but recently I found someone who had done the math on developing a Pi Cycle Low indicator, also using the crosses of moving averages.
The Pi Cycle Top uses the 2x350 Daily MA and the 111 Daily MA
The Pi Cycle Bottom uses the 0.745x471 Daily MA and the 150 Daily EMA
Note: a Signal of "top" doesn't necessarily mean "THE top" of a Bull Run - in 2013 there were two Top Signals, but in 2017 there was just one. There has been one in 2021, but on-chain analysis and macro TA is pointing to there possibly being another one in 2021 or early 2022. Regardless, combining the two indicators (Top and Bottom) means the MAs that converge first will likely give good indication of which will cross first in the next few years.
There is as much of a chance of two "bottom" indications occurring in a single bear market, as nearly happened in the Liquidity Crisis in March 2020.
The Pi Cycle Top uses the 2x350 Daily MA and the 111 Daily MA
The Pi Cycle Bottom uses the 0.745x471 Daily MA and the 150 Daily EMA
Note: a Signal of "top" doesn't necessarily mean "THE top" of a Bull Run - in 2013 there were two Top Signals, but in 2017 there was just one. There has been one in 2021, but on-chain analysis and macro TA is pointing to there possibly being another one in 2021 or early 2022. Regardless, combining the two indicators (Top and Bottom) means the MAs that converge first will likely give good indication of which will cross first in the next few years.
There is as much of a chance of two "bottom" indications occurring in a single bear market, as nearly happened in the Liquidity Crisis in March 2020.
Release Notes
On April 19 2024 (UTC) the Fourth Bitcoin Halving took place, as the 840,000th block was completed.The Pi Cycle Bitcoin High/Low indicator was updated to show this event.
Thank you for your continued support of this indicator.
Release Notes
Follow me on X: @0creditsleftRelease Notes
Thank you Crypto, for delaying a few minutes and allowing the UTC time to change to 4/20 Last cycle top 69K
Cycle halving 4/20
Hahaha brilliant
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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