A buy signal has been spotted for bitcoin near $84,000.

The Crypto Basic, a blockchain outlet, reported on Sept. 22 that the latest "Supertrend buy signal" had also appeared when bitcoin was previously around $16,000. The indicator stayed green for about three years, and the price jumped about 700%.

The Supertrend indicator turned green in early 2023 when bitcoin was near $16,000. Bitcoin then continued a long-term uptrend, topping $100,000 on Dec. 2024 and rising to around $120,000 in Oct. 2025. The indicator later switched to a sell signal, and bitcoin slid from above $100,000 to $57,700 in July 2026.

Over the past two months, bitcoin has rebounded 51% from a cycle low of $57,700. Supertrend is an indicator that reflects both price and volatility to show trend direction, with green generally meaning an uptrend and red a downtrend. The latest shift to green suggests a potential return to upside momentum after the recent decline, but it does not mean a repeat of the past 700% rise.

Other technical indicators are also pointing to a similar move. Bitcoin climbed back above its 365-day moving average of about $83,000 this week. CryptoQuant CEO Ju Ki-young (주기영) viewed this zone as a signal for gauging the end of a bear market and the resumption of FOMO among institutional investors.

Analyst Ted Pillows also said bitcoin has already formed a bottom, citing a higher weekly high and a break above the 50-week moving average. On Sept. 20, bitcoin's weekly close was $81,159, about 3% above the 50-week moving average and about 24% above the 200-week moving average. It was the first time in 45 weeks that bitcoin posted a weekly close above the 50-week moving average.

The next key zone still lies ahead. Bitcoin's next major technical price level was presented as near $88,761, the 2-year moving average. If the price holds above that level, upside momentum could strengthen further. With many past cases where bitcoin extended gains after reclaiming the 50-week moving average, the market is watching whether this rebound remains a short-term technical recovery or develops into a trend reversal.

The last time the Supertrend flagged a BUY signal, Bitcoin was $16K. It stayed green for 3 years and 700% straight up. It just printed again at $84K pic.twitter.com/N4dGxeXFSS