Here’s Why Bitcoin’s 2022 Decline Would Be Over [Bottom]

The Pi-Cycle Bottom indicator says that the bottom has been reached!

The Pi-Cycle Bottom gave a signal. This new technical indicator determines the “macro-bottom” of the Bitcoin price. It is based on the long term.

On June 18, a low of $17,622 was marked by Bitcoin. Moreover, a new low was reached on June 30 at $18,600. These 2 bottoms have surely led the indicator to send the bottom signal for Bitcoin.

2/2 👀 Note that the EMA 9 and 18 crossed bullish, which had not happened since April 9 (oh yeah “like the same”). I still believe for my part in a bullish leg “B” then a nice “C” before starting again in a new cycle, although the Pi-Cycle Bottom has been given https://t.co/1WiUpv5FsP

However, the current macroeconomic picture is very different from previous cycles. The correlation between Bitcoin and major tech indices is at its strongest. And for the moment, there are no strong signals pleading for the reversal of the stocks in the markets.

What is the Pi-Cycle Bottom and what is its past performance?

The 471-day SMA and the 150-day EMA are two long-term moving averages on which the Pi-Cycle Bottom is timed.

The indicator has given 3 signals so far. The first occurred on January 16, 2015, just two days after the price of Bitcoin hit an all-time low of $152.

The 2nd signal occurred on December 16, 2018. It was a day after the all-time low of the last bear market, which was $3,122.

Read also The digital Euro: A new form of investment to consider?

Last Wednesday, the third signal was given.

$BTC #Bitcoin The Pi-Cycle-Bottom indicator just marked a possible low for $BTC. -This is the third time in the history of #Bitcoin. -In 2015 and 2018, this indicator was on point. It happened, as it does now, after an ABC correction. https://t.co/iCG3kFoH9S

Second breakout for BTC/USD in 2022

Bitcoin had ranged for a month around $30,000 before breaking that level. The same range is observed at $20,000. On Monday, BTC/USD broke its range on the upside. We could therefore expect a continuation of the rise towards $25,000 and then $30,000.

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