Cryptocurrency specialized media O'Daily suggested the possibility that the market has formed a macro bottom, based on key technical indicators from the BTC monthly chart. According to the analysis, a TD Sequential buy signal, which accurately predicted the 2022 bear market bottom, appeared on the BTC monthly chart last month. Furthermore, the current price is located near the 50-month Moving Average (SMA), which has served as a strong support line since 2014, and the Chande Momentum Oscillator (CMO) indicator has also fallen to -71, indicating an extremely oversold condition. In the short term, sideways movement may continue within the $60,000-$67,000 range, but as the combined indicators suggest a long-term bottom has formed, the breakthrough of this sideways range in the future could determine a new upward trend. TD Sequential is a technical indicator used to predict trend reversal points (bottoms and tops) in stock or virtual asset charts.
