Bitcoin's latest bullish technical signal is cooling off, which is neutral-to-mildly-negative short term but normal behavior for traders who follow this pattern.

• A golden cross — a bullish crossover of moving averages — triggered 29 days ago.
• Returns since then ran far ahead of what past golden crosses delivered, peaking around day 14.
• That overshoot was flagged as an outlier at the time, with sideways action and a pullback expected.
• Returns have now dropped back toward the historical median of about 3% for this point in the cycle.

Outlook: Expect more sideways chop as the move settles near its historical average path rather than extending higher.