Bitcoin Fisher Transform Indicator Prints Fourth-Ever Bullish Cross
The Fisher Transform indicator is showing strong signs that Bitcoin's latest long-term floor may be in place, according to Willy Woo.
In August, the Fisher Transform indicator delivered a monthly bullish crossover for only the fourth time in Bitcoin's history. This crossover occurred at -2.26 and if it continues to play out, history suggests that BTC/USD will embark on a new macro uptrend.
Woo notes that price could still consolidate and continue lower, referencing a corresponding phenomenon during bull markets where Fisher delivered a bearish crossover, only to offer a fresh bullish one later. This is due to the presence of speculative traders during long-term BTC price uptrends, who influence market momentum because they are sensitive to short-term price moves.