Bitcoin can hit $92K in April and still not match bull run RSI peaks: Analyst
More proof that Bitcoin is far from the most vertical stage of its bull run comes from PlanB and the relative strength index. Bitcoin (BTC) can surge to $92,000 in the next two weeks and still “only” be matching its past performance, new data claims.In a tweet on Wednesday, PlanB, the analyst behind the stock-to-flow family of Bitcoin price models, noted that despite this week’s gains, BTC/USD still has plenty of energy in it.PlanB focused on Bitcoin’s relative strength index (RSI), a classic metric used to chart the progress of price runs in particular. RSI can give a useful insight into....
Related News
Speculation has been going on in the crypto community as to whether the $69k Bitcoin top was the peak of this bull run. Here’s a comparison between some indicators to see how this top compares with the $65k April peak. Comparing the Metrics Between The Nov 10th And April 14th Peaks As per the latest weekly report from Arcane Research, most of the sentiment measuring metrics highlight the differences between the two tops. The first relevant metric is the futures open interest indicator, which shows the total amount of Bitcoin involved in futures contracts at the end of a trading day.....
A recent technical breakdown shared by crypto analyst Trader Tardigrade added a notable outlook to the discussion of how fast Ethereum can enter into a bull run or if there’s more consolidation ahead. In his post on X, he compared Ethereum against the US Dollar Index and then consulted Perplexity AI for a data-backed explanation of the relationship. The result was a match of DXY peaks and Ethereum bottoms, pointing to a recurring inverse pattern that may now be coming back into play. Ethereum’s Volatility Tied To The Dollar Index The technical analysis from Trader Tardigrade focuses on the....
The Bitcoin price recently closed above the median in a bull channel, providing a bullish outlook for the flagship crypto. In line with this, crypto analyst Tony Severino provided insights into what could come next for Bitcoin. What Next For Price After Close Above Bull Channel In an X post, Tony Severino mentioned that the Bitcoin price is now retesting the median in the bull channel, with an evening star pattern forming on the chart, which hints at a potential reversal. He noted that Bitcoin is fighting to stay above the $96,000 range, which could invalidate this sell signal. Related....
Stock-to-flow model creator PlanB has calculated Bitcoin could reach $92K by the end of April...but will it actually get there? The cryptocurrency markets experienced a monumental green wave this week. Bitcoin and Ether calmly made new all-time highs on the back of Coinbase’s direct listing and the Berlin hard fork. Meanwhile, meme-cryptocurrency Dogecoin blasted off to more than 400% gains, briefly claiming a spot as a top 5 cryptocurrency by market capitalization. Despite the media hype and market movements of this week, PlanB showed Bitcoin still isn’t as overbought as it was at the....
On-chain data suggests this signal that has historically occurred around Ethereum peaks has yet to appear in the current cycle. Ethereum Foundation Wallets Haven’t Made Large Outflows This Cycle So Far In a new post on X, the market intelligence platform IntoTheBlock has discussed a pattern that Ethereum has witnessed alongside its previous market peaks. The pattern in question is related to the netflows for the wallets associated with the Ethereum Foundation. The ETH Foundation is a non-profit entity supporting the cryptocurrency and its ecosystem. Related Reading: Shiba Inu,....