BTC Pi Cycle top; fast EMA dipping down

7 jul

With crypto being a relatively young asset class it is always difficult to draw any firm predictions from the data (anti- TA investors think TA is hocus pocus regardless). However, the Pi cycle top has so far acted as a pretty good predictor of the bull cycle top (usually crossing over within a few days of the top). If the predictor is to work again, then this week the 111 moving average taking a nosedive isn't a good sign. It hasn't done that before during a full bull run. Will be interesting to see how the week closes out. A strong rebound from 53K over the next couple of weeks, may take the 111 back into an upwards trajectory.