Crypto analyst Merlijn The Trader pointed out that the Moving Average Convergence Divergence (MACD) on Bitcoin's monthly chart is showing a rare pattern that has only appeared three times in history, each of which previously signaled the start of a major bull market. However, he believes the market bottom has not yet formed, and a significant price drop may still be needed before explosive growth begins.
Historical charts show that Bitcoin experienced similar momentum reset phases in 2015, 2019, and 2023, each ending with an upward breakout from a symmetrical triangle pattern, followed by a bull market that set new all-time highs. For example, in the 2023 cycle, after consolidating within the triangle, the price soared above $100,000 in 2025. The MACD turning red on the monthly chart was a key leading signal before each bull market began.
In the current cycle, Bitcoin's chart has formed a similar long-term triangle structure, with prices compressing downward for several months. Analysts confirm that the monthly MACD indicator has turned red as in historical patterns, indicating that the formation of the final price bottom is only a matter of time. The true start of the bull market requires waiting for the price to effectively break out of the current bearish triangle structure.
If historical patterns repeat, analysts project based on the chart that Bitcoin could potentially hit a new all-time high of $209,596 in 2027, with the possibility of further climbing to $283,500.