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.
The Fisher Transform indicator produced a rare crossover for only the fourth time in Bitcoin’s history.
Bitcoin (BTC) is showing strong signs that its latest long-term floor is already in, according to a classic trading indicator.
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 cross in question occurred during July at -2.26, and if it continues to play out, history suggests that BTC/USD will embark on a new macro uptrend. Woo, however, notes that price could still consolidate and continue lower, referencing a corresponding phenomenon during bull markets where Fisher delivered a bearish crossover, only to offer a fresh bullish one later.