Bitcoin's Fisher Transform indicator has produced a monthly bullish crossover for only the fourth time in the asset's history, according to analyst Willy Woo, historically a marker of bear-market bottoms. The signal lands days after a golden cross confirmed on the daily chart and a short-covering rally that pushed Bitcoin back above $78,000 following the Federal Reserve's latest rate hike.
Bitcoin jumped roughly $2,000 over eight hours, climbing from lows near $76,300 back above $78,000 as a wave of forced liquidations swept through leveraged bearish positions. The move came two days after the Federal Reserve's 25-basis-point rate hike, which had briefly pushed the price below $76,000.
Fisher Transform flashes a rare signal
In an X thread on Friday, analyst Willy Woo flagged the Fisher Transform indicator's fourth-ever monthly bullish crossover in Bitcoin's history. Previous crossovers accompanied the end of bear markets, including late 2022, when the indicator hit -3.83. The latest cross printed in July at -2.26. According to Willy Woo: "BTC bottoms: 3 for 3 without fake out."
On weekly time frames, Fisher hit a swing low of -2.85 at the end of December, when BTC/USD traded near $90,000, and has since posted higher lows even as price made lower lows, a bullish divergence that echoed the final six months of the 2022 bear market. Doubts remain over whether Bitcoin's 21-month lows near $57,000 on July 1 marked the actual bottom, however.
Golden cross adds to the technical case
The signal follows a golden cross confirmed on September 12, when the 50-day exponential moving average closed above the 200-day line, ending a death cross that had held since November 2025. Bitcoin still needs a daily close above the $82,614 ceiling of its current range. The next resistance zone sits between $98,068 and $99,486.
Meanwhile, over $247 million in short positions were liquidated across crypto markets on September 17 and 18, with Bitcoin short liquidations around $66 million against roughly $32 million in long liquidations over the same window. A sustained hold above $78,000 would likely lift sentiment across altcoins, while a reversal back toward the lower end of the range would probably drag the wider market with it.
Sources: Cointelegraph, Finance Magnates, Crypto Briefing
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