"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.
Two Different 50-Week Lines Are in Circulation
The level PlanB cites does not match the figure appearing elsewhere this month.
Glassnode and technical coverage through September have placed the 50-week simple moving average at" means that PlanB believes Bitcoin may have moved out of a bear-market phase because its price has recovered above an important long-term trend indicator. He sees the 100-week moving average near $89,000 as a possible next technical area to watch.
#BTCBreaks80K
The post also says other indicators have improved: more Bitcoin holders are now in profit, and the monthly RSI has risen above 50, which can indicate momentum is becoming less bearish. However, these are confirmations of the recent price recovery—not guarantees that Bitcoin will keep rising.
$GOOGL.US $NVDAB
The key disagreement is over which 50-week moving average should be used. The 50-week EMA is lower because it gives more weight to recent prices, while the 50-week SMA is higher and is often viewed as a tougher resistance level. At roughly $78,000, Bitcoin may be above the EMA but still below the SMA, so calling the bear market “over” remains debatable.
$NVDA.US
In simple terms: the article presents a bullish interpretation, but it emphasizes that Bitcoin still needs to overcome significant resistance and show sustained real buying demand before that view is firmly confirmed.#SaylorHintsStrategyBitcoinBuy
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.
Two Different 50-Week Lines Are in Circulation
The level PlanB cites does not match the figure appearing elsewhere this month.
Glassnode and technical coverage through September have placed the 50-week simple moving average at" means that PlanB believes Bitcoin may have moved out of a bear-market phase because its price has recovered above an important long-term trend indicator. He sees the 100-week moving average near $89,000 as a possible next technical area to watch.
#BTCBreaks80K
The post also says other indicators have improved: more Bitcoin holders are now in profit, and the monthly RSI has risen above 50, which can indicate momentum is becoming less bearish. However, these are confirmations of the recent price recovery—not guarantees that Bitcoin will keep rising.
$GOOGL.US $NVDAB
The key disagreement is over which 50-week moving average should be used. The 50-week EMA is lower because it gives more weight to recent prices, while the 50-week SMA is higher and is often viewed as a tougher resistance level. At roughly $78,000, Bitcoin may be above the EMA but still below the SMA, so calling the bear market “over” remains debatable.
$NVDA.US
In simple terms: the article presents a bullish interpretation, but it emphasizes that Bitcoin still needs to overcome significant resistance and show sustained real buying demand before that view is firmly confirmed.#SaylorHintsStrategyBitcoinBuy