The cryptocurrency climbed past its previous close on Sept. 20 during a rally supported by bullish technical indicators. Bitcoin reclaimed a price above $81,000 after the Fisher Transform indicator flipped bullish, a signal that strategists report has maintained a 3 for 3 record in calling bottoms without a fakeout.

A 30 day compression score hit 93.9% as the price squeezes against its yearly moving average, a state CryptoQuant analyst Axel Adler Jr. says sets up a potentially decisive move. Trader Willy Woo noted that these turning points are not always automatic reversal signals and the price can consolidate before moving further.