Pi Cycle Bottom indicator again signals a possible bitcoin bottom
- —The Pi Cycle Bottom signal fired in 2015, 2018 and 2022 near price lows
- —The indicator is built on the 150-day EMA and the 471-day SMA with a 0.745 coefficient
- —Alex Thorn of Galaxy Research: the 200-week MA marked bottoms in past bear cycles
- —A break above the 50-week moving average could confirm a bottom
Why it matters: The signal may point to a long-term bottom forming, but it needs confirmation from other indicators.
Source: Blockmedia