Bitcoin had it's all-time-high at ~65k USD. People believe the big market cycle top is not in, yet.
There are many indicators you can look at to determine if this formation was a market top or just a higher high. Today I want to focus on the Pi-cycle-indicator, because it's the only one I know, which predicted every market cycle top of Bitcoin with an accuracy of 3 days (look at the charts linked below).
The Pi-cycle-top-indicator is calculated by two moving averages. When they hit the same price level, the top is reached. This time it was just a day before the breakout to 65k. You know what happened afterwards. The week was closed below the 7WMA indicating a new downtrend (if it is not a false breakout).
So when you made profits, you might want to take some off the table. Of course Bitcoin could reach 100k in a few weeks, but it seems like no one is expecting that this was actually the top. That's why I listen to the Pi-cycle-top indicator.
No financial advice :)
