Bitcoin Bull Cycle Intact: Analyst Highlights Key Indicators

• Analyst Sam Price dismisses peak claims, citing strong macro indicators like the Pi Cycle Indicator and hidden bullish divergence.
• Bitcoin’s RSI, Fear & Greed Index, and Fibonacci levels suggest the market is near a bottom, not a top.
• Price sees the recent 23% dip as a chance to accumulate before Bitcoin’s next rally

Prominent market analyst Sam Price has pushed back against claims that Bitcoin’s bull cycle has ended, citing multiple macro indicators that suggest the market is far from its peak.

In a recent tweet, Price argued that Bitcoin is closer to the price bottom than the top, urging investors to take advantage of the recent dip. His perspective contradicts growing speculation that the 2024/2025 bull run peaked at $109,000—a notion reinforced by CryptoQuant CEO Ki Young Ju, who recently declared the bull market over.

Why the Bull Cycle is Still on

Price’s analysis centers on several key indicators, including the Pi Cycle Indicator, macro price action, hidden bullish divergence, and oversold readings on RSI and the Fear and Greed Index (FGI).

One of the strongest signals, according to Price, is the Pi Cycle Indicator, developed by Phillip Swift. This tool has historically predicted Bitcoin’s tops with precision. A top is confirmed when the 111-day moving average crosses the 350-day moving average x2 (350DMA x2). Currently, these moving averages remain far apart, signaling that Bitcoin is still in an uptrend and closer to a bottom than a peak.

Additionally, Bitcoin’s recent dip aligns with a macro higher-low structure, which typically precedes higher highs. However, Price cautioned that a weekly close between $58,000 and $56,000 would invalidate this bullish outlook.

Hidden Bullish Divergence Signals Uptrend Continuation

Another critical metric identified by Price is a hidden bullish divergence on Bitcoin’s weekly timeframe. This occurs when price forms a higher low, while an oscillator—such as the Relative Strength Index (RSI)—forms a lower low, suggesting a continuation of the uptrend.

Supporting this view, BTC recently saw a 23% correction from its January 20 high, but the RSI formed a lower low. Historically, this pattern has preceded strong rebounds. Furthermore, Bitcoin is hovering near the 1.618 Fibonacci level (Golden Pocket), a key retracement zone where price reversals often occur.

Price also pointed to Bitcoin’s daily RSI, which dropped to 23 on March 11—a level seen only twice in recent years. Both previous instances marked significant macro bottoms:

• November 10, 2022 – RSI hit 23 as Bitcoin fell to $15,854 before a major rally.
• September 7, 2023 – RSI hit 23 at $25,639, marking another price low before a surge.

Similarly, Bitcoin’s Fear and Greed Index (FGI) plunged to 10 on February 27, historically aligning with major buying opportunities. Price believes this, alongside other indicators, reinforces the case for investors to dollar-cost average (DCA) their Bitcoin positions before the next leg up.