Renowned quant analyst PlanB, known for the stock-to-flow (S2F) model, is predicting a Bitcoin (BTC) bounce based on on-chain data. He highlights the realized price metric, which currently sits at around $65,000. PlanB expects BTC to bounce from this level, as it has historically served as a support line in bull markets. He also points to the Relative Strength Index (RSI), a momentum indicator, which he believes will reach peak levels similar to previous cycles, indicating potential for exponential returns. This suggests that PlanB remains bullish on Bitcoin's future.
The Daily Hodl•2 years ago•
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PlanB Predicts Bitcoin (BTC) Bounce: On-Chain Signals Bullish?
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Summary:
PlanB, known for the S2F model, believes Bitcoin (BTC) is poised for a rebound.
He cites the realized price metric, which has historically acted as support in bull markets, currently at $65,000.
PlanB expects a bounce from this level.
He also highlights the Relative Strength Index (RSI), expecting it to reach peak levels like in previous cycles, implying exponential returns.
These indicators suggest a bullish outlook for Bitcoin.
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