In this episode of NewsBTC’s daily technical analysis videos, we compare past Bitcoin bottoms and tops using the Pi Cycle Bottom and Pi Cycle Top indicator. We also dive into recent comments from John Bollinger, creator of the Bollinger Bands. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 9, 2022 This video provides a detailed look at Bitcoin market cycles using the Pi Cycle Bottom indicator and other tools. A recent exchange between Tony “The Bull” and the creator of the Bollinger Bands is also a topic of discussion and corresponding analysis. Related Reading: WATCH: Bitcoin, Wyckoff Theory, And The Composite Man | BTCUSD September 8, 2022 Are Bitcoin Bottoms As Easy As Pi? The Pi Cycle Bottom indicator fired back in July, but price action retested lows for a second time. Looking back across history, it is visually clear that the tool has been fairly precise in its top and bottom signals. For further reassurance, we used technical indicators like the Relative Strength Index and LMACD. As a reminder, the LMACD is the logarithmic version of the MACD, which provides signals across high timeframes that allow for better comparison from cycle to cycle. Bearish momentum ran out of steam at the exact same point in the past two market cycles on weekly timeframes, which just so happened to coincide closely with the pi cycle bottom indicator firing. RSI also reached oversold lev...
