Bitcoin Fisher Transform prints fourth bullish cross in history
In brief
- Fisher Transform crossed over for only the fourth time in Bitcoin's history, per analyst Willy Woo
- Previous three crossovers marked bear-market bottoms with no false signals, suggesting current setup reliability
- Bitcoin's July lows near $57,000 represent 21-month low with bullish divergence throughout 2026
How the Fisher Transform works
The Fisher Transform smooths an asset's price action to create a readable trend-strength chart. The indicator is formed of two trend lines, the Fisher line and the trigger line, that fluctuate on a scale with zero at its center.
For Bitcoin, a sharp upward reversal where these two trend lines cross over one another has corresponded to bear-market bottoms when viewed on monthly time frames. Woo shows that the previous three crossovers produced bottoms without false signals—a track record that adds weight to the current setup.
The cross in question occurred during July at -2.26. Bitcoin's 21-month lows near $57,000 occurred on July 1, establishing a potential cycle floor. If the July crossover continues to play out, history suggests that BTC/USD will embark on a new macro uptrend.
Caveats and divergence signals
Woo notes that price could still consolidate and continue lower, referencing a corresponding phenomenon during bull markets where Fisher delivered a bearish crossover, only to offer a fresh bullish one later. During bear-market bottom phases, speculative traders are mostly absent, boosting the reliability of Fisher bottom signals.
The weekly chart shows another Fisher bull structure in process throughout 2026. The indicator hit its swing low of -2.85 at the end of December last year, with BTC/USD still at around $90,000. Fisher has delivered a succession of higher lows while price itself sees lower lows, creating a bullish divergence. The same bullish divergence pattern emerged in 2022, with a bullish divergence in Fisher accompanying the final six months of Bitcoin's previous bear market.
Doubts remain over whether Bitcoin's July 1 lows near $57,000 really marked a new cycle bottom. Woo himself noted a lack of typical buyer interest at these lows, with bid-side activity suggesting that only a handful of large-volume investors were accumulating at the time.
"BTC bottoms: 3 for 3 without fake out. Latest cross is the 4th on record"
— Willy Woo, analyst
