Fairlead Strategies founder Katie Stockton says the technical damage bitcoin has taken over the past several months may finally be running its course. To bolster her case, Stockton pointed to a rare long-term signal where bitcoin has registered a measurable oversold reading on two of Fairlead’s preferred long-term indicators, a combination that has historically preceded major turning points rather than brief bounces.

“We are seeing those signs of long-term downside exhaustion already,” she said, adding that momentum itself is beginning to tick higher on a long-term basis even as price stays under pressure.

Stockton’s process leans on support levels, Fibonacci retracements (a charting tool that maps likely reversal zones based on a prior price swing) and the Ichimoku cloud model to identify where fresh demand is likely to appear. She added:

“Not only is there a long-term oversold condition which is measurable, but then also we have a momentum uptick on a long-term basis.”

She also drew a comparison to gold, which recently cleared its own 50-day moving average during a pullback. Even so, Stockton argued bitcoin “has a better chance of putting in a major low” than gold does right now, framing the current setup as unusually favorable given how deep and prolonged the drawdown has already run.

The call lands during a genuinely uncomfortable stretch for holders given that bitcoin has traded around $63,000 for much of the week, sitting below every major daily moving average (including its 20-day, 50-day and 200-day lines).

Moreover, the Fear and Greed Index, a widely tracked gauge of crypto market sentiment, continues to sit at a reading of 34, squarely in the “fear” zone, as stalled progress on the Securities and Exchange Commission’s (SEC) tokenization rulemaking added to the bearish mood.

Stockton isn’t confining the thesis to bitcoin alone, extending the “major low” framework to ether specifically. “The good news is that we may have already seen that major low,” Stockton said of ether’s chart, part of a wider technical conversation that also touched Solana, XRP and Hyperliquid alongside bitcoin.

The read is important since Stockton has previously argued that smaller tokens tend to bottom and top in step with bitcoin, making the two largest assets a useful proxy for reading the broader market’s health. If bitcoin and ether are genuinely both closing out long-term downside exhaustion at the same time, it would mark one of the more significant confirmations technical analysts look for heading into a new cycle, rather than just another short-lived relief bounce.

From the outside looking in, Stockton’s framework is built around long-term signals precisely because they can take weeks or months to resolve into a sustained trend change, and short-term charts can still chop sideways or retest lows even after a long-term signal flips.

Bitcoin.com News previously reported bitcoin holding above its $59,100 low as short-term charts flashed an oversold bounce setup, an earlier version of the same tension between weak near-term structure and improving longer-term signals that Stockton is now describing on a much bigger timeframe.

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