Important - Bitcoin Price Movement Analysis
I'll keep this short and to the point.
It is noteworthy that the Pi Cycle Top Indicator has signalled a market peak.
This indicator correctly (and accurately) signalled both the 2013 and 2017 BTC peaks.
However, it also signalled the April 2013 faux peak.
Source: https://www.lookintobitcoin.com/charts/pi-cycle-top-indicator/
Used with the permission of the creator: https://www.lookintobitcoin.com/about/
Other indicators are not signalling a market top. In addition to this, my market analysis leads me to believe that (for fundamental reasons) this bull run still has a LONG way to go, with several months of climbing yet to come.
It has now become very likely that we are indeed looking at a "Scenario 1", as I first proposed in this post of 5 January: Bitcoin – Yesterday’s dip.
My stance remains as discussed in my post of 26 March "Taking Profits – Further Considerations" ,
If BTC does top out within the five-figure range, and that is possible (but unlikely), then it’s not worth selling. Then it will only be a short and small crash which will soon lead to the next price surge, something like we saw in 2013.
Selling early does you no favours. We’ve literally been waiting YEARS for this bull run, give the bulls a chance to do their thing properly! Don’t hop off the train early because you got chicken, if you really are that afraid, then why are you investing in crypto anyway? Crypto is volatile – we all know this, so let that volatility work in your favour.I strongly suggest that those in doubt read the posts linked to above.
Remember: trade with your head, not with your heart. Don't be manipulated by your emotions.
Take care and please don't do anything silly. As always, I'm happy to chat about the market and to help your brainstorm a few ideas.
Yours in crypto
Bit Brain
Original charts made by Bit Brain with TradingView
"The secret to success: find out where people are going and get there first"
~ Mark Twain
"Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful"
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Published by Bit Brain on with SteemPress https://mentormarket.io/cryptocurrencies/bit-brain/important-bitcoin-price-movement-analysis/
