Crypto analyst Tice has pointed to a signal that has predicted every Bitcoin bottom in each bear cycle. Based on this, the analyst suggested that the flagship crypto may again be forming a bottom just as the price looks to break above the psychological $80,000 level.
The Signal That Has Predicted Every Bitcoin Bottom Is Again Aligning
In an X post, Tice said that the signal that has called every Bitcoin bottom in history has triggered again. He noted that in the 2014, 2018, and 2022 bear cycles, BTC was in a bear cycle for around 14 months before forming a bottom, with a price explosion following. Now, this same pattern may be playing out again with BTC looking to form a bottom.
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Tice stated that risk has been repriced, leverage has been cleared, and sentiment has been washed out. He added that time alignment is a condition, not a confirmation. Right now, time, structure, and positioning are said to be all aligning. He suggested that now was a good time to invest in Bitcoin with the “window” open and that asymmetric opportunities like this don’t wait.
In another X post, the analyst reiterated that a Bitcoin bottom was forming. He alluded to the median Market Value to Realized Value (MVRV), which he noted has hit the same signal as every major bottom in BTC history. Tice added that a multi-year bull market has always followed whenever this signal appears, as it has now.
Therefore, he remarked that if history rhymes even loosely, then two to three years of bull market for BTC may be on the horizon. He added that the bear market that felt different on the way down is about to feel very familiar on the way up.
BTC Approaching A Make-or-Break Level
Crypto analyst Colin stated that Bitcoin is nearing an interesting spot on the chart, which is the intersection of two trend lines and one horizontal resistance level. Based on this, he gave a 50% chance of BTC forming a local top around this intersection. However, if it breaks above the channel, the analyst predicts it could move much higher and reach a local top around the $84,000 to $86,000 zone.
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Colin noted that the zone is where the most immediate and significant horizontal resistance can be found from the previous consolidation range. Meanwhile, the analyst doesn’t believe Bitcoin is back in a bull run, despite the leading crypto forming new highs since its February 6 low of around $60,000. BTC has also notably rallied amid the U.S.-Iran war.
At the time of writing, the Bitcoin price is trading at around $79.900, up over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Pixabay, chart from Tradingview.com
