A signal that has appeared only three times in 15 years and landed on a major Bitcoin (CRYPTO: BTC) bottom each time is completing on August 31, according to a prominent analyst.
What is This Bitcoin Bottom Signal?
Analyst Oliver Velez laid out the case in his weekly Bitcoin Intelligence Report. The signal works by flipping the usual relationship — instead of measuring Bitcoin in dollars, it measures the S&P 500 (NYSE:SPY) in Bitcoin.
When that chart rises, Bitcoin is losing ground to stocks. When it falls, Bitcoin is winning.
The pattern that matters is three consecutive rising bars on a four-month chart, each one higher than the last.
