WATCH: Bitcoin Bottoms As Easy As Pi? | BTCUSD September 9, 2022

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 levels both previous instances. Layer in some cyclical tools, and we have what appears to be a pattern. A historical look at past Pi cycle Bottom and Top signals. | Source: BTCUSD on TradingView.com While everyone is incredibly bearish and expecting new lows in #Bitcoin, tools with 100% success rate suggest the worst is behind us and are in sync with past cycle bottoms. pic.twitter.com/mrk0zJFFhK — Tony "The Bull" Spilotro (@tonyspilotroBTC) September 9, 2022 Examining The Bollinger Bounce The Bollinger Bands were recently behaving as past setups, with the most recent being the bottom at $29K the first time, before it ultimately breaking down after it was revisited this year. The last major bottom also had a similar, yet less pronounced bullish divergence on the RSI. The current setup also looks similar to the October 2019 “China Pump” where Bitcoin climbed more than 40% in under 72 hours. A similar move of such magnitude would take the leading cryptocurrency by market cap to more than $26,000 per coin by Monday afternoon. However, the tool’s creator, John Bollinger, warns that the current setup lacks the necessary “squeeze” for a “head fake” – terminology that is specific to the wave the Bollinger Bands behave. Is this a similar setup? | Source: BTCUSD on TradingView.com It wasn't a proper Squeeze so it can't be a Head Fake.But, if we reverse tomorrow it could be nice trade. — John Bollinger (@bbands) September 6, 2022 Learn crypto technical analysis yourself with the NewsBTC Trading Course. Click here to access the free educational program. Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com

Name	Symbol	Market	Market Cap ($)	Algorithm
EOS	EOSUSD	Crypto	944,562,447	Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0017	0.21%	0.8247	0.8243	0.8246

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.831	0.8225	0.8237	0.823	0.479300 - 1.36

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	02:35:59	5.70	0.8247	USD

Price x Volume	Volume	Base Symbol	Related Pairs
78,920.46	95,230.39	EOS	EOSEUR	EOSGBP	EOSBTC

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