Pi Cycle Top TL Is Now Intersecting the 350x2 DMA!
#bitcoin #btc #btcusd #priceprojections #bullrun #crypto #ta
Traders,
Something exciting and possibly foretelling has just occurred. If you've never heard about the Pi Cycle Top indicator, I'd encourage you to look it up. It has called the last 3 Bitcoin cycle tops correctly. Basically, when the 111 DMA intersects the 350x2 DMA, you have a top. In 2021, the indicator called the top a bit early. However, you can see that the price didn't really exceed the indicator call too greatly before we entered into our bear market.
So, what I decided to try here is to connect the last two cycle tops with a trend line. And look what happens! At the place where the trend line projects, the 350x2 DMA now intersects perfectly. This current price is $109,600. But that is the price today. The 111 DMA will obviously trail this current intersection by greater than 111 days. This may indicate one of a few things:
1. The indicator will finally be wrong.
Or
2. The indicator keeps its winning record and a cycle top will not occur until well into 2025 (probably the end of the year). Given the rising rate of my trend line and the time it will take to obtain the intersection of the 111 DMA with the 350x2 DMA, our final top price is projected to be around $125,000 by the end of 2025.
This projection is probably lower than what some may expect, but keep in mind this top may be occurring in a U.S. (possibly global) economic recession which I see beginning sometime in mid-2025. Therefore, the price of BTC at $125k is actually both impressive but also more realistic. And it aligns with our technicals.
P.S. - As my followers know, my projection for the end of this year in 2024 still remains at 88-92k.
Stew