Analyst Ai said on X that Bitcoin's monthly chart is showing a cluster of bullish signals, and a macro cycle bottom may have formed. The TD Sequential indicator triggered a buy signal on the monthly time frame last month, the same setup that caught the 2022 bear market bottom. Bitcoin's price is also trading near the 50-month simple moving average, a level that historically has acted as major support and lined up with previous cycle bottoms. The Chande Momentum Oscillator has dropped to around -71, a zone that last appeared in June, when Bitcoin briefly fell toward $57,000. Extremely low CMO readings have historically tended to overlap with market bottom zones. Short term, Bitcoin may oscillate between $60,000 and $67,000. But the confluence of the TD Sequential buy signal, long-term moving average support, and oversold momentum suggests the long-term bottom could already be in. Market attention now turns to whether price can break above the range and confirm a fresh uptrend.
Crypto analyst Ai said in a post on X that multiple technical indicators on Bitcoin's monthly chart are flashing bullish signals. The market may have already formed a macro bottom.
TD Sequential triggered a buy signal last month
Data show the TD Sequential indicator triggered a buy signal on Bitcoin's monthly chart last month. The same indicator successfully identified the 2022 bear market bottom, and a similar setup is showing up again.
Price sits near the 50-month simple moving average
Bitcoin's current price is also close to the 50-month simple moving average (SMA). Historical data going back to 2014 suggests this long-term average has repeatedly served as a major support zone, lining up with multiple market bottoms over the cycles.
Chande Momentum Oscillator drops to -71
The Chande Momentum Oscillator (CMO) has dropped to around -71. The last time it reached a similar level was in June this year, when Bitcoin briefly fell toward $57,000. Extremely low CMO readings have historically tended to coincide with market bottom zones.
Range-bound short term, macro bottom in view
Ai argues Bitcoin could still trade sideways between $60,000 and $67,000 in the near term. But the combination of the TD Sequential buy signal, support at the 50-month SMA, and the oversold CMO reading suggests a long-term cycle bottom may already be in place. The next move to watch is whether price can break out of the range and confirm a fresh uptrend.
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