Bitcoin adds to bull-market hopes as price metric prints fourth-ever bullish cross
The Fisher Transform indicator produced a rare crossover for only the fourth time in Bitcoin’s history.
Bitcoin has demonstrated strong bullish signs with the Fisher Transform indicator reaching its fourth-ever bullish cross in its history. Willy Woo, an analyst, flagged key readings from the indicator, which smooths price action to create a trend-strength chart. The Fisher Transform uses two trend lines, the Fisher line and trigger line, that fluctuate around zero.
When these lines cross over, it typically signals a bear-market bottom. However, in the case of Bitcoin, this crossing has corresponded to bear-market bottoms on monthly time frames four times, with the latest occurrence in July at -2.26.
The indicator's reliability is attributed to the absence of speculative traders during bear-market phases, making bottoms easier to define and less prone to "fake outs." The weekly chart also shows a bullish divergence pattern, with Fisher delivering higher lows while BTC/USD sees lower lows, suggesting a potential macro uptrend. Despite bear-market signals on onchain metrics, doubts persist over whether Bitcoin's 21-month lows near $57,000 truly marked a new cycle bottom.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
