today for the Bitcoin price and this is one of the single best videos. I have made it in a very long time. I am going to show you one indicator which predicted every single bottom up to the exact day. It is predicting this bottom once again. I want to show it to you. I will talk about my 100 Bitcoin trade which is right now raking in 77 thousand US dollars. The profit was already at 160 or so just an hour ago but Bitcoin is, unfortunately, going down. Once again I wanna talk about this. I wanna talk about the charts and everything that’s important right now to determine how low we will go to determine. What is going to happen to Bitcoin right now in the immediate short term.
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This year is my orange Bitcoin car, it’s a citron, it’s plastic. This is what the bear market is teaching me right barefoot on an island with a plastic car, while I have a McLaren and g-class, and Bentley. Everything in Dubai. I’m bare feet here in Formentera enjoying driving around with this car. I think that’s a good learning the bear market is teaching me right now.
Now let’s jump directly into the charts thank you so much for watching thank you so much for your support before we are going into this insane shot this is not the one. I want to show you one thing the weekly candle just flip bull bearish actually flip red a few minutes ago – doesn’t mean anything but, of course, if we want to see Bitcoin reverse. We need to we need it to reverse very soon. As you see we are below the 200-week ma and the only time this happened was actually in 2020 when we closed slightly below. But the next week is already pumped above, so I don’t want to stay too long below a line Bitcoin Denver state below for like more than five days. So, definitely, we need the price to reverse very soon. We are below the 11-year support which is not beautiful obviously. I am in this long position, but I wanna see the Bitcoin price reverse very soon.
Now let’s talk about this indicator here. What you can see? This is the PI cycle bottom crossover or the PI cycle bottom indicator. We have the same. Let me quickly go back we have a very similar thing look at this beautiful car and we have a very similar thing uh for bull market ties and actually predicted the last bull market high of 69 000 us dollars by cycle indicator is actually two moving averages which if you divide them by each other they give you the value pi so you take 350-period moving average and the 111-period moving average it works for the bottom and for the top now if we are going into this you can see this one was flashing in 2015 giving us the exact Bitcoin bottom on the left-hand side now in the middle of the screen you can see another flash exactly when we hit 3150 us dollars and on the right-hand side you can see this signal is right now looming to flash. It has not been flashing yet.
But what you can see is it has to flash it has to cross very soon. In accordance to the previous cycles, this should be then the Bitcoin bottom. Now, the question, of course, remains when is this going to happen at what price target is this going to happen. We could basically pump a little bit and go sideways and it would still flash like the one moving average takes a little bit of time to reverse. We don’t necessarily need a price below the previous low of 17 500 US dollars. We could still flash, but the thing is. In accordance with that, the indicator at the bottom is either not in yet or we need a little bit more shopping around for the Bitcoin price. Now I want to know from you, of course, what are you expecting for Bitcoin. I personally expect that we at least hit the bottom already or we are hitting it very soon that we are not going significantly lower.
if we break lower, you can see here is another long order, actually, at 17 300 us dollars which would decrease my liquidation price to 16 800 US dollars. Of course, if Bitcoin breaks lower I’m not gonna give up on this trade. I have to scale it higher and higher. It gets exponentially more expensive for me that’s. That’s calculated in, if you wanna do that you can do it but be aware that this is only for very experienced traders. It’s not for someone who can’t afford to lose the whole trade. This is a kamikaze kind of trade, a very risky thing. If you wanna trade it, well, you might as well go down below if you are experienced and claim the bonuses.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/xuANRPX_ofo
