Bitcoin News | PlanB Says the Bear Market Is Over With $89,000 Next, But the Level He Cites Is Disputed
Analyst PlanB has declared the Bitcoin bear market over, saying the token has reclaimed the 50-week moving average at approximately $79,000 with the 100-week average around $89,000 as the next target.
He pointed to Bitcoin's August close of $78,571 alongside improving indicators: the proportion of supply in profit rising from 50% to 72%, and monthly RSI climbing from 41 to 51.
Analyst PlanB has declared the Bitcoin bear market over, saying the token has reclaimed the 50-week moving average at approximately $79,000 with the 100-week average around $89,000 as the next target.
He pointed to Bitcoin's August close of $78,571 alongside improving indicators: the proportion of supply in profit rising from 50% to 72%, and monthly RSI climbing from 41 to 51.