👇1-13) Since the start of this fifth Bitcoin bull market, one indicator has consistently outperformed all others, accurately calling six major turning points since January 2023. Its only notable miss was issuing a correct ‘sell’ signal in April 2023 but then waiting until January 2024 to flip bullish—missing the September 2023 momentum surge ahead of the Bitcoin ETF approval.
👇2-13) While Bitcoin is now testing its downtrend resistance, the 'High, Tight Flag' formation—typically a bullish continuation pattern—suggests potential upside. However, rather than relying solely on technical analysis, a more robust indicator with a proven track record in identifying Bitcoin’s medium-term cyclical turning points (approximately 3 months) is now signaling that a potential reversal may be imminent, based on this week’s data.
Bitcoin Technical Chart Pattern: Breakout?