Bitcoin Price At Bullish Turning Point? Analyst Thinks So

Bitcoin has been subject to a harsh downtrend over the past six-odd months, with the price of the leading cryptocurrency falling by 50%, at times more, from the $14,000 peak established in June.

While some expect for the pain to get worse for the crypto market — former Wall Street trader Tone Vays, for instance, recently remarked that $5,000 is in the cards — a key indicator which signals when assets reach turning points has just flipped bullish, implying that a return to a bull phase for Bitcoin may be right on the horizon.

Bitcoin Indicator Suggests Trend Change On Horizon

According to trader Moe, Bitcoin’s two-week chart recently printed a number of positive signs signaling a macro trend change to bullish: the Fisher Transform indicator, which shows turning points in a market and overall directionality, recently flipped green on the two week for the first time since the $14,000 top; a Tom Demark Sequential “buy nine” was printed at the…