Bitcoin may have entered a new long term recovery phase, according to two separate chart analyses from Ted Pillows and Trader Tardigrade. While one chart points to support holding above major weekly moving averages, the other shows a monthly RSI pattern that has matched previous cycle bottoms. Bitcoin Bottom Structure Points to Possible Multi Year Uptrend Ted Pillows shared a weekly Bitcoin chart showing what he sees as a possible bottom structure before the next multi year rally. The chart places Bitcoin near $70,168 and marks two long term support levels: the 250 week simple moving average near $52,775 and the 220 week simple moving average near $57,169. These zones have supported price in past cycle resets. Bitcoin Weekly Bottom Structure: Source: Ted Pillows / X The setup shows Bitcoin moving through a correction, then holding above key long term averages while forming a base. That pattern looks similar to earlier cycle bottoms, when Bitcoin first stabilized, then slowly recovered, and later entered a stronger upside trend. In this case, the analyst suggests the market may still be in the base building stage rather than in a fully confirmed breakout. The projected path on the chart shows Bitcoin consolidating above the long term averages before starting a fresh climb. Then the move extends into a broader price expansion phase over several years. The idea behind the chart is not that a rally has already started, but that the structure now looks closer to accumulation than breakdown. Still, this remains a scenario, not confirmation. Bitcoin must continue holding above major support levels for the pattern to stay intact. If it does, traders may view the current structure as another long term bottom forming ahead of a new uptrend. Bitcoin RSI Pattern Signals Possible Bottom as New Uptrend Setup Forms Trader Tardigrade shared a monthly Bitcoin chart arguing that the market likely formed a bottom in February 2026 based on relative strength index behavior across previous cycles. The chart shows a repeating structure in which Bitcoin first posts an impulsive move higher, then the RSI breaks below its support trendline, and price enters a pullback phase that lasts about 12 monthly candles. Bitcoin RSI Bottom Structure: Source: Trader Tardigrade / X In both earlier examples on the chart, that RSI breakdown came after a strong advance and was followed by roughly one year of correction before Bitcoin reached a bottom. After that, the RSI reclaimed its rising structure and Bitcoin started another impulsive move that led to a fresh all time high. The latest setup appears to follow the same pattern. According to the analysis, the current cycle has now reached the 12th monthly candle since the RSI breakdown. That timing places Bitcoin at the point where previous bottoms formed on the chart. As a result, the analyst says the correction phase may now be complete and a new uptrend may be starting. Still, this remains a chart based scenario, not confirmation. The main point of the setup is that Bitcoin has reached the same stage in the cycle where earlier pullbacks ended. If the RSI continues to recover and the broader structure holds, traders may read the pattern as the start of the next bullish leg.
