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Quinten Francois highlights that Bitcoin is approaching a significant technical milestone, with one weekly close potentially triggering a Supertrend event not seen since January 2023.
According to Francois, bitcoin:native is currently testing its weekly Supertrend at $79.7K. The last time a bullish flip occurred, Bitcoin posted gains of 21.5% in three months, 32.5% in six months, 85.1% in twelve months, and a 455.8% increase at its cycle peak.
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Francois has previously tracked Bitcoin’s price action, noting earlier this year that the asset was trading around $63,000 and monitoring key technical levels such as the 200-week moving average and cost bases in a prior update. He has also commented on other digital assets, describing Bittensor’s price drop as a major asymmetric opportunity for crypto investors. These updates provide additional context for his recent technical analysis on Bitcoin.