The Pi-Cycle Bottom will most likely cross tomorrow.
If the indicator remains predictive, and consistent with itself, the bottom should occur within a few days of it crossing.
This would imply significant downside coinciding with an important CPI/Fed meeting this week.
There is precedent for the indicator crossing and BTCUSD falling -40% within the following few days.
I've wavered quite a lot on the question of whether the macro bottom is in. Mostly due to Ben Cowen's credibility and views, I'm currently leaning towards the bottom not being in and significant downside still to come. The pi-cycle bottom crossing in this context may impy we will see a large downside move in the next week.
If the indicator remains predictive, and consistent with itself, the bottom should occur within a few days of it crossing.
This would imply significant downside coinciding with an important CPI/Fed meeting this week.
There is precedent for the indicator crossing and BTCUSD falling -40% within the following few days.
I've wavered quite a lot on the question of whether the macro bottom is in. Mostly due to Ben Cowen's credibility and views, I'm currently leaning towards the bottom not being in and significant downside still to come. The pi-cycle bottom crossing in this context may impy we will see a large downside move in the next week.
