Analyst: Bitcoin bottom of $58.000 was clearly visible

An analyst claims that the Bitcoin price around $58.000 formed one of the clearest cyclical bottoms ever. To support this, he shares a three-week chart from Bitstamp on which the LMACD indicator showed a similar pattern at earlier bottoms in 2015, 2018 and 2022.

His conclusion is brief: anyone who missed this bottom ignored a signal that, historically, has rarely been so clear.

Bitcoin is available at OKX and Bybit.

In brief:

• Analyst sees $58.000 as a classic cyclical bottom for Bitcoin
• The LMACD indicator on the three-week chart gave a similar signal at each previous bottom
• According to him, this was one of the most recognisable entry opportunities in the current cycle

Pattern repeats on the three-week chart

The chart the analyst shares shows the Bitcoin price on Bitstamp over a period of more than ten years, measured in three-week candles. Four bottoms are marked in it: 2015, 2018, 2022 and now 2026.

At each of those bottoms, the LMACD indicator fell to a similarly low level and then began to turn. The exact same pattern occurred around $58.000, the level the analyst identifies as the bottom of the current cycle.

Analyst has little sympathy for those who missed the signal

Quinten François, the analyst behind the analysis, is far from mild in his assessment. According to him, the signal around $58.000 was so clear that there are hardly any excuses for missing it.

This is explicitly a personal view and a look back in hindsight. Whether the bottom of the current cycle is actually behind us cannot be said with certainty at this moment.