Potential ETH Breakout 6hr6hr break out arrow with squeeze of volatility shading (thanks Trading Alpha) - but the best part of this set up is combining the @tradingalpha HTF trend with @caretakers jewel which is showing a potentially decent signal here on the 6 hr in the works with all purple, pink and yellow bouncing off of the .382 with positive slope in bullish formation.
On top of this for further confirmation the 1hr has gone bullish with reference to Fibbo Swannys Threshold Theory system with a target just over 3500, closing the 4 hr above here would automatically lead the time frames up into concluding this Jewel signature on the 6hr could play out beautifully.
Caretaker
BTC Pi Cycle Top Indicator Signal.The Pi Cycle Top Indicator as created by Philip Swift has caught the eye of many traders and analysts (Including myself) as a possible tool to "call the top" of this market cycle.
It is giving the "Signal" now, so should I automatically sell as it has always been a good idea previously to sell when the signal is given??
I would say that we can disregard the Pi Cycle Top signal in this case for the following reasons.
All other Momentum Oscillators and Volatility metrics were giving obvious highs at each of the previous signals.
This time the setup is distinctly different on both volatility metrics and on momentum oscillators, with most volatility metrics being close to their lows, and momentum oscillators hovering just slightly above their midlines.
Personally (this is not financial advice, I am not a financial advisor) I will be completely disregarding the Pi Cycle Top signal as a consequence.
I am interpreting the momentum oscillators coming back down near their midlines as a "Bullish reset" giving them room to run to the upside and volatility dropping near its lows as giving room to expand.
I will remain bullish on Bitcoin until I see momentum oscillators breaking below their midlines or an obvious higher Timeframe reversal.