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Quant Analyst PlanB: Bitcoin Bull Market “Confirmed”, RSI Reaches 64

Lily Yang

Summary: PlanB, a noted quant analyst and the creator of the Stock-to-Flow series of Bitcoin price models, said in a tweet on August 18 that bull market was confirmed with a relative strength index (RSI) of 64. The RSI index measures whether Bitcoin is overbought or oversold at a particular price level. Recent performances are similar ...

PlanB, a noted quant analyst and the creator of the Stock-to-Flow series of Bitcoin price models, said in a tweet on August 18 that bull market was confirmed with a relative strength index (RSI) of 64.

The RSI index measures whether Bitcoin is overbought or oversold at a particular price level. Recent performances are similar to previous halving cycles in 2012 and 2016, which saw prices increased after the halving cycle. According to Bitpush News previously, PlanB, based on the inventory flow model, predicts that BTC will reach $288,000 this time.

By Lily Yang

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