The Pi Cycle Bottom Indicator has proven to be quite accurate in calling the bottoms for both the 2015 and 2018 bear markets. Usually when this happens, it is followed by a multi-month consolidation phase, which then launches a parabolic bull run.
What exactly is the Pi Cycle Bottom Indicator?
This indicator flashes when the 471-day SMA and the 150-period EMA cross.
This week is the third time in Bitcoin's history that this indicator has flashed, which tells us that the bottom is close.
Can there still be one final capitulation wick to the downside? Of course. But, the main point here is that we are NEAR a bottom. Combine this with the weekly/monthly RSI, and you have a fairly good accumulation opportunity for the long-term.
What exactly is the Pi Cycle Bottom Indicator?
This indicator flashes when the 471-day SMA and the 150-period EMA cross.
This week is the third time in Bitcoin's history that this indicator has flashed, which tells us that the bottom is close.
Can there still be one final capitulation wick to the downside? Of course. But, the main point here is that we are NEAR a bottom. Combine this with the weekly/monthly RSI, and you have a fairly good accumulation opportunity for the long-term.