It's Coming Again... 'That Signal,' Repeated 3 Times in the Past, Has Appeared in Bitcoin

▲ Bitcoin (BTC), Bull Market (Bull) vs Bear Market (Bear)/ChatGPT Generated Image ©

Even amidst warnings that Bitcoin (BTC) has not yet hit its 'true bottom,' an analysis has emerged that key signals predicting a long-term bull run are simultaneously being observed.

According to the cryptocurrency specialized media Bitcoinist on April 22 (local time), cryptocurrency analyst Merlin the Trader diagnosed that Bitcoin's monthly Moving Average Convergence Divergence (MACD) is once again forming a rare pattern that triggered major bull runs in the past. However, he predicted that in this cycle, a full-fledged rally is more likely to begin after further declines rather than an immediate surge.

According to the analysis, Bitcoin has currently entered a 'momentum reset' phase. This structure also appeared in 2015, 2019, and 2023, each time followed by a major bull run after selling pressure was exhausted. It is commonly observed that in each cycle, the price maintained support levels amidst a downtrend, forming a symmetrical triangle pattern, followed by an explosive surge after an upward breakout.

The monthly MACD acted as a key leading indicator in these trends. Before past bull runs, the MACD showed a characteristic of moving out of a deep decline phase into a 'soft bullish reversal zone,' and the same signal has already appeared this time. This is interpreted as a signal that a bullish cycle is being prepared, even if the market has not yet bottomed out.

However, the short-term trend remains unstable. The analyst did not rule out the possibility of another decline before the final bottom is formed, as the current Bitcoin price continues its downward compression within a long-term symmetrical triangle pattern. He predicted that a full-fledged bull market would begin if the price breaks above this structure.

If this scenario materializes, mid-to-long-term target prices are set considerably high. The analyst predicted that Bitcoin could rise to approximately $209,596 by 2027, and in an extended scenario, could even reach up to $283,500. The market is currently in a phase where the 'final stage of decline' and the 'preparation phase for an uptrend' overlap, and is assessed to have entered a period of increased volatility to gauge the timing of a directional shift.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*