Bitcoin is consolidating immediately below a key bull market breakout level which sparked the rapid run to all-time highs in both 2017 and 2020. on April 12, popular trader Jelle flagged a key crossover due on Bitcoin’s Pi Cycle Top indicator.Pi Cycle Top is a classic Bitcoin bull market observation tool. Consisting of two moving averages, it has consistently delivered macro top signals for BTC price action.
“Once Bitcoin breaks the Pi Cycle moving average — all bets are off,” he wrote in accompanying commentary.Bitcoin Pi Cycle Top indicator. Source: Glassnode While such price action has unnerved some market participants, others, including Jelle, see it as healthy behavior around such a critical psychological line in the sand.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin funding rates stay cool while BTC price coils beneath $71KBitcoin benefits from lower U.S. PPI data with BTC price action now challenging the $71,000 mark.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
Bitcoin absorbs $100M+ ‘sell-side days’ as bears lose BTC price cloutBTC price drawdowns have not even hit 20% this cycle as Bitcoin buyers absorb huge outflows.
Source: Cointelegraph - 🏆 562. / 51 Read more »