With crypto being a relatively young asset class it is always difficult to draw any firm predictions from the data (anti- TA investors think TA is hocus pocus regardless). However, the Pi cycle top has so far acted as a pretty good predictor of the bull cycle top (usually crossing over within a few days of the top). If the predictor is to work again, then this week the 111 moving average taking a nosedive isn't a good sign. It hasn't done that before during a full bull run. Will be interesting to see how the week closes out. A strong rebound from 53K over the next couple of weeks, may take the 111 back into an upwards trajectory.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.