$BTC - Bear Market Bottom Signal 📊

Bitcoin currently shows signs of being extremely oversold. This observation is based on the Stochastic indicator when viewed on the monthly timeframe.

Historically, over the past 14 years, every Bitcoin bear market bottom has correlated with the Stochastic indicator reaching an extremely oversold level. This pattern has been consistent since the first cycle in 2012.

Notably, Bitcoin has now re-entered this critical oversold zone once again. This alignment with historical data suggests a potential bear market bottom signal.

It is crucial to remember that this analysis uses the monthly timeframe. Consequently, the associated price range and time horizon for developments to unfold could be significant. Patience and a long-term perspective are advised.