The Bitcoin Turn

After all of the Bitcoin ETF hype comes the deflating reality that the Bitcoin price has reached an interim top.

You could have figured this out several differnt ways. All the calculations involve calculating the price expansion of Bitcoin from the $15,200.00 bottom.

The above would have been, in hindsight, a lower-end estimate. Another way to have calculated the high would have been as follows. It is a slight variation of Pi which works pretty well.

A third way you could have figured out that Bitcoin was nearing a top would have been to look at this Bitcoin Prophet forecast below. It changes the lines somewhat as time passes, but when the bottom 20-period blue Bollinger Band either crosses or comes near touching the center forecast line, the price tends to reverse lower to revisit the lower bound (or below) of the Prophet forecast.

So, despite what the Bitcoin bag pumpers claimed about the BTC ETF pushing the price to the moon, cycles, and gravity always win. Clearly, short of some dramatic change, the trend is higher. However, it is normal and healthy for the market to pull back before taking another higher. It would be unsurprising if the Bitcoin price dropped 15% to 20% from its recent high price of $48,969.37 to $39,200 or below.

As always, don't buy and sell Bitcoin based on memes and narratives, and never listen to slimy salesmen just pumping their bags.