Bitcoin metric sees a repetition of bullish surge with up to 1,900% price gains in BTC

Bitcoin (BTC) has the potential to reach $180,000 if a new bull signal follows historical patterns, according to a post by Caleb Franzen, founder of Cubic Analytics, on March 1. Franzen highlighted that BTC price returns could increase by 260% from current levels in this market cycle. He analyzed the Williams%R Oscillator and found a rare bull signal that has only occurred four times in history. Franzen emphasized that overbought signals are incredibly bullish and should be seen as momentum indicators rather than signals to fade. Previous bull signals appeared in 2013, 2016, and 2020, all marking the early stages of a Bitcoin bull market. While the returns have decreased in each cycle, even achieving similar results to 2020 would result in a Bitcoin price of $180,000. Franzen cautioned that these events should not be seen as a guarantee of future performance, but rather as an indication of how market participants have behaved in the past. The Relative Strength Index (RSI) also supports the bullish trend, with daily timeframes showing overbought levels and monthly timeframes entering the overbought zone. It is important to note that this article does not provide investment advice, and readers should conduct their own research before making any decisions.