The Bitcoin Pi Cycle Top Indicator (created by Phillip Swift) just crossed! Does it mean a dump is coming? Historically, the Pi Cycle Top Indicator for Bitcoin was within 3 days of the top. Since we first started covering this indicator a few months ago, it may be time for an update! The global top for Bitcoin was 29 days ago, so unless Bitcoin goes back above $61.8k or so, and then has a major crash within the next 3 days, then the cross of this indicator will not come within 3 days of a major local top. We will certainly keep an eye on this indicator, but we must remember that no indicators retroactively fit necessarily have predictive power, although they certainly could. Where do you see the price of Bitcoin headed in the next few days? Let me know in the comments!
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