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Bitcoin (BTC) is showing strong signs that its latest long-term floor is already in, according to a classic trading indicator.
Key points:
- In August, the Fisher Transform indicator delivered a monthly bullish crossover for only the fourth time in Bitcoin’s history, according to Willy Woo.
- Previous monthly crossovers accompanied the end of Bitcoin bear markets, including in late 2022, when the Fisher Transform Indicator hit -3.83.
- A bullish divergence continued on weekly time frames, echoing the closing stages of the 2022 BTC price downtrend.
Analyst sees evidence of clean BTC price reversal
In an X thread on Friday, analyst Willy Woo flagged key readings from the Fisher Transform indicator, a price trend analysis tool created in 2002.
The indicator smooths an asset’s price action to create a readable trend-strength chart. Market prices tend to spend more time around extreme values than ordinary statistical data. The Fisher transform…
