The monthly Bitcoin chart indicates a potential bottom formation if the MACD indicator maintains its strength until the close.

Bitcoin faces a pivotal test at the $73,000 to $74,000 level.
The Bitcoin price is currently oscillating between the possibility of a momentum rebound and testing a key resistance level that could end in another decline. One chart shows an early signal of bottom formation, while the other shows a level that buyers still need to regain before any larger price movement can hold.
The monthly Bitcoin chart indicates a potential bottom formation if the MACD indicator maintains its strength until the close.
The chart suggests a possible signal for the start of a bottom phase on the Bitcoin monthly timeframe. SuperBitcoinBro highlights the first rise on the logarithmic MACD chart after a long period of weak momentum. In this context, this shift is significant because the previous cycle's lows also formed when the chart stopped declining and started rising.

Monthly BTC/USD chart with a histogram of the logarithmic MACD indicator. Source: SuperBitcoinBro
However, the signal has not yet been confirmed. The chart note clearly illustrates this: Bitcoin still needs to sustain this improvement until the end of the month. Until then, this movement remains a developing signal and not a confirmed reversal.

Meanwhile, the chart indicates that momentum may stabilize even with the price remaining below its recent highs. That’s why this type of analysis garners significant attention. If the monthly chart closes higher, traders might interpret it as a sign of decreasing downward pressure. Conversely, if it fails to do so by the end of the month, the likelihood of a bottom formation diminishes.

Bitcoin faces a pivotal test at the $73,000 to $74,000 level.
The chart shows Bitcoin pushing toward a major resistance zone near $73,000 to $74,000. This area is now highly significant, as a full recovery could pave the way for further gains. In this case, the next upward targets on the chart are around $76,472, then approximately $80,600.