Bitcoin: Fisher Transform posts 4th monthly bullish cross

Analyst Willy Woo highlighted that the Fisher Transform produced only the fourth monthly bullish crossover in Bitcoin’s history, recorded in July at -2.26. He said the three previous monthly crossovers occurred at the ends of past Bitcoin bear markets.

The Fisher Transform, created in 2002, smooths price action using a log-based adjustment and plots a Fisher line plus a trigger line delayed by one period. On monthly charts, crossovers of those lines have previously coincided with deep market lows for Bitcoin, Woo noted. He pointed to a late-2022 Fisher low of -3.83 as an earlier bottom signal.

On weekly charts Woo identified a bullish divergence developing through 2026. The indicator hit a swing low of -2.85 at the end of December, when Bitcoin traded around $90,000. Since then the Fisher has formed higher lows while price made lower lows, a structure that matched the pattern seen in the final six months of the 2022 downtrend.

Woo cautioned the monthly crossover is not a guarantee of a sustained bull run. He noted Fisher has produced bearish crossovers inside bull markets that later reversed, and that prices can still consolidate or decline after a bullish reading. He also observed limited buyer interest at 21-month lows near $57,000 on July 1, where bid activity suggested only a small number of large-volume investors were accumulating.

Woo wrote: “BTC bottoms: 3 for 3 without fake out. Latest cross is the 4th on record.” The Fisher readings add to other on-chain and technical indicators that have flagged possible bear-market reversal conditions. Market participants are weighing the monthly crossover and the weekly bullish divergence alongside other signals as they assess near-term price direction.