Bitcoin adds to bull-market hopes as price metric prints fourth-ever bullish cross

Bitcoin (BTC) is showing strong signs that its latest long-term floor is already in, according to a classic trading indicator.Key points:In August, the Fisher Transform indicator delivered a monthly bullish crossover for only the fourth time in Bitcoin’s history, according to Willy Woo.Previous monthly crossovers accompanied the end of Bitcoin bear markets, including in late 2022, when the Fisher Transform Indicator hit -3.83.A bullish divergence continued on weekly time frames, echoing the closing stages of the 2022 BTC price downtrend.Analyst sees evidence of clean BTC price reversalIn 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 indicator smooths an asset’s price action to create a readable trend-strength chart. Market prices tend to spend more time around extreme values than ordinary statistical data. The Fisher transform corrects this by applying a log-based transform. The indicator is formed of two trend lines, the Fisher line and the trigger line, that fluctuate on a scale with zero at its center. The trigger line is derived from the Fisher line, plotted with a delay of one ...