A long-term monthly momentum indicator for Bitcoin has flipped positive out of deeply depressed territory, a setup that has been bullish every previous time it appeared.

• The monthly stochastic momentum oscillator crossed up from the low zone for the first time since 2022.
• The same signal has only fired three or four times before, in 2011, 2015, 2018 and 2022.
• Each of those crossovers came right after a bear market ended and marked the start of a recovery.
• The median gain one year after the signal has been 84%, which would put Bitcoin comfortably back above six figures.

Outlook: If the pattern holds, the next twelve months should be strongly positive for Bitcoin.