CryptoCon, a popular technical analyst, highlights the potential for a Bitcoin cycle top, citing indicators such as the Directional Movement Index (DMI), which gauges an asset’s strength and direction while reducing potential false signals.

The analysts suggest that a cycle top could occur in two weeks or three months around April and June this year.

More Pain to Come?

The 2 Week Directional Movement Index tells us that a cycle top for #Bitcoin could be coming very soon, possibly within the next weeks to months.

This would be scheduled to be the first of 2 cycle tops, with a cross of 55.12.

The time it has taken to put in a first top after… pic.twitter.com/cjasD97PTZ

CryptoCon’s analysis comes amid a new record of net inflows for spot Bitcoin ETFs. As CryptoPotato reported, the investment vehicles saw a high of $1.05 billion, up 56% from $673 million on Feb. 28th. The surge comes as Bitcoins price is gripped with greed, hitting a new all-time high above $73,000.]

However, the assets price headed south after the recent peak. As reported earlier, BTC slumped by roughly six grand in hours, leaving millions in liquidations. There are also warning signs that more pain could follow soon.

Is A Correction Coming?

A chart by Swissblok analyst and macro-economist Henrik Zeber shows that Bitcoin is facing a negative bearish divergence between BTC’s price netting new all-time highs and a waning relative strength index (RSI).

“No moves without a counter-move. And a counter-move seems to be near.” Swissblock said in the Telegram update. “We see BTC dropping to ~58-59K in its next move.” This is a 20% correction from current prices.

Source: : Swissblock. This foreshadows a price pullback as the RSI throws a waning momentum for Bitcoin. However, the analyst suggested that “the top is not in” meaning that a 20% decline in BTC might pave the way for the cycle top CryptoCon referred to.