Bitcoin

Rekt (rektarb.xyz)

Rekt

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/price-analysis/the-pi-cycle-indicator-a-deep-dive-into-bitcoins-market-prediction/">The Pi Cycle Indicator: A Deep Dive into Bitcoin’s Market Prediction</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p>
<p><a href="https://www.youtube.com/watch?v=J1h7DeCulu8" rel="noopener noreferrer nofollow">Analyst Rekt Capital </a>has stressed the significance of the Pi Cycle top indicator in predicting Bitcoin’s bull market tops across various cycles. This indicator has shown remarkable accuracy in forecasting market tops, notably in the previous year.</p>
<p>In a recent video, he discussed the two key levels to monitor Bitcoin’s future movements. The analysis focused on the 111-day moving average, particularly observing how it had accurately anticipated a price breakout beyond $28,000. The discussion highlighted the historical oscillation patterns around this moving average, especially during pre-halving years.</p>
<p>The analysis suggested that, despite the upward momentum, a potential retest of the $28,000 level could still occur. Drawing parallels with previous pre-halving years, Rekt Capital explained how deviations and failed retests often transpire before the market stabilizes and heads towards new all-time highs.</p>
<p>The analyst introduced the concept of the 350-day moving average, a crucial indicator, and proposed $52,000 as a potential resistance level. While cautioning against expecting a repeat of the 2019 retracement, Rekt Capital stressed the importance of timing in the halving year. The green moving average was highlighted as a potential rejection point before the halving, while the orange moving average could be a support post-halving.</p>
<p>However, analyst Ali Martinez has pointed out a concerning trend in the market. According to Martinez, when the price of Bitcoin ($BTC) experiences an upward movement while the growth of the network simultaneously decelerates, it raises a red flag. This scenario suggests that the ongoing uptrend may lack the necessary momentum for sustainability.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> has found stable support around $36,400, but if this level breaks, the next critical demand zones for <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> are at $34,300 and $30,200. <a href="https://t.co/5yY6fwbVq3" rel="noopener noreferrer nofollow">pic.twitter.com/5yY6fwbVq3</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1724320070036312506?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 14, 2023</a>
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<p>Martinez identifies this bearish divergence between Bitcoin’s price and network growth as an on-chain sell signal, urging traders to exercise caution. Despite noting that Bitcoin has established stable support at approximately $36,400, Martinez warns that a breach of this level could be significant. He highlights the following critical demand zones for Bitcoin at $34,300 and $30,200 in such a scenario.&nbsp;</p>
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The Pi Cycle Indicator: A Deep Dive into Bitcoin’s Market Prediction

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