Analyst: Multiple technical indicators flash bottom signals, Bitcoin bull run may have begun

Odaily News Crypto analyst Ai stated on the X platform that multiple technical indicators on Bitcoin's monthly chart are flashing bullish signals, suggesting that the market may have formed a macro bottom. Data shows that the TD Sequential indicator triggered a buy signal on Bitcoin's monthly chart last month. This indicator previously succeeded in identifying the 2022 bear market bottom, and a similar signal has now emerged again.

Additionally, Bitcoin's current price is near the 50-month simple moving average (SMA). Historical data shows that since 2014, this long-term moving average has repeatedly served as a key support zone for Bitcoin and has corresponded with multiple market bottoms. Meanwhile, the Chande Momentum Oscillator (CMO) has fallen back to around -71. The last time this indicator reached a similar level was in June this year, when Bitcoin's price briefly dropped toward $57,000. Historically, extreme CMO lows often coincide with market bottom zones.

Analysts believe that Bitcoin may continue to consolidate within the $60,000 to $67,000 range in the short term, but the TD Sequential buy signal, support from the 50-month moving average, and the oversold CMO condition collectively suggest that a long-term cyclical bottom may have already formed. The market will be watching whether the price can break out of the consolidation range to confirm a new round of upward trend.