With the Bitcoin Pi Cycle Top Indicator (created by Phillip Swift) likely crossing in the next few days, 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 25 days ago, so unless Bitcoin goes back above $61.6k or so, and then has a major crash within the next week, 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. TA Video by Benjamin Cowen.
