Data: Indicators show that Bitcoin has reached a deep area for forming a periodic bottom

Analyst Gaah cited CryptoQuant data stating that the Bitcoin cycle momentum indicator shows that the current bear market has not yet ended. This indicator has not risen above the neutral zone (0), so the bear market continues. The indicator has reached the -30 point range, which historically is a deep area for forming cyclical bottoms. Historically, this range (-30) has constituted a major support level for BTC. However, to confirm a trend reversal, the price must form a bullish pattern while the indicator breaks through the neutral zone.