TechFlow News, April 24: According to BIT on Target’s weekly report, Bitcoin’s bear market phase may be nearing its end, with multiple time-frame signals gradually converging. The weekly stochastic oscillator has declined to its lowest level since January 2023—a reading that historically corresponds to market bottoming zones. Additionally, the trend model has turned bullish, and the current price action exhibits stronger continuity conditions compared to the two prior signal reversals.
On the price front, Bitcoin is currently consolidating around the $70,000 level, gradually approaching its 21-week moving average—the critical bull/bear demarcation line. The report notes that $73,000 has served as a key inflection point since March 2024; a confirmed and sustained breakout above this level would further validate the reversal signal. On-chain capital inflow data shows approximately $1 billion in monthly inflows most recently—a marked improvement from the prior period of deep net outflows. The report also cautions that, prior to reaching the target price zone, upward momentum may still be disrupted by intermittent risk factors.
