Bitcoin price indicator that marked 2015 and 2018 bottoms is flashing

Based on the indicator that indicated the 2015 and 2018 bear markets bottoms, Bitcoin (BTC), could see a huge price recovery in the next few months.

What is the bottom indicator of the Bitcoin Pi Cycle?

The indicator is called “Pi Cycle bottom” and includes a simple moving average (SMA), 471-day exponential moving averages (EMA) and a 150-period exponentialmoving average (EMA). To predict the bottom of the underlying market, the result is multiplied with 0.745.

It is notable that each time the 150-period EMA falls below the 471period SMA it marks the end of a Bitcoin bearish market.

In 2015, for instance, the cross-over coincided with Bitcoin hitting a low of $160 in January 2015. This was followed by a nearly 12,000% bull market toward $20,000 in December 2017.

BTC/USD weekly chart with ‘picycle bottom’ indicator Source: TradingView

The 2018 bear cycle ended with the 150-471 MA crossover, which marked the end of the 2018. It was also the end of a 2,000% price rise — from $3,200 in December 2018, to $69,000 in November 2021.

Only the third time in human history

Bitcoin’s 150-day EMA (at $22,332 as per July 12th) will close below its 471 day EMA (at $30,208), this week. This marks the third Pi Cycle bottom in Bitcoin’s history.

BTC/USD Weekly Price Chart – The next possible cycle bottom. Source: TradingView

After a 75% price correction from $69,000, Bitcoin is now at $20,000 and appears to be crossing over.

Related: Bitcoin price could bottom at $15.5K, if it retests its lifetime historical support level

BTC/USD has been trading at the same level for nearly a month. The latest MLIV Pulse survey found that the price of Bitcoin is more likely to drop towards $10,000 than rebound towards $30,000.

These fears are a result of the ongoing chaos in crypto markets caused by the failures of several prominent companies.

MLIV Pulse Survey results about Bitcoin’s next trend. Source: Bloomberg

Investors are also scared by hawkish central banks policies, which focus on removing excess money from the economy.

If the bottom fractal is met, Bitcoin could recover to $30,000 or more. As shown in the chart, the interim upside target is the 0.236 Fib line on the Fibonacci Retracement graph. It runs from the $69,000-swing high down to the $17,000 low.

com. You should do your research before making any investment or trading decision.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

Close Bitnami banner