CandleFocus Don’t Expect a Bitcoin Dip Before Big Break of $100,000, According to Quant Analyst PlanB – Here’s Why
2024-11-21
Author: Content Editor
The popular crypto analyst PlanB suggests that Bitcoin may not experience a significant market correction until it surpasses the $100,000 mark. He notes that current Bitcoin holders appear to be selling their coins in anticipation of reaching this price target. However, this profit-taking behavior could mean that a significant dip at $100,000 may not actually occur. PlanB also points out that Bitcoin's relative strength index (RSI) has not yet peaked based on previous bull market cycles, indicating that the upward trend may continue. Additionally, he shares a chart showing that Bitcoin is holding as support for the two-year realized price level, a trend seen in past bull markets. At the time of writing, Bitcoin is trading at $94,290, around 6% below the $100,000 level.
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