Here is the 2018 Pi Cycle Bottom & the last time it got close to bottom price is 54 days after the bottom.
Pi Cycle Bottom 2022 has been printed on 13 July. If price action were to match 2018, 5 Sep would be the last day for us to buy near bottom prices.
From the analysis, one of the 3 scenarios might play out for BTC:
1. (Blue Arrow) Price goes to June's bottom at around 17.6k for a double bottom. It seems unlikely at this point as it'd present buyers/longs to open below Pi Cycle bottom.
2. (Yellow Arrow) For this to work out, we should see the price being rejected off the parallel channel near Fib retracement 0.618 @ 21400+. If the price is rejected there, we would go back to range lows of 19k before any further positive price action.
3. (Black Squiggly) This scenario denotes that the bottom is in and sideways consolidation is here to shake out retail.
In any case, all scenarios will point towards 23-25k.
On daily chart, we've crossed below parallel channel.
This could mean 2 things:
1. Deviation to take out late "Long"-ers. Price will go back up next week to clear 21.4k.
2. Rejection off the parallel channel would mean we will see 21.4k first then 19k.
If you're a trader, wait between 5-12 September to not get caught out/stuck in any trades.
If you're an investor, we're closer to the bottom than to the top.
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