Quant Analyst Planb everywhere predicts more parabolic rallies for Bitcoin (BTC) to high price objectives by the end of this year.
In a new strategy session, Planb takes a glimpse into the monthly relative strength index (RSI) from Bitcoin.
The RSI is usually used as a momentum indicator and also to suggest overbough or over -sold circumstances.
Planb notes that BTC Historically, at the height of Bitcoin Bull markets, runs for several months with its RSI above 80 – characterized by the red dots on its card.
With the monthly RSI, 80 is approaching quickly, and given the average profit of BTC during periods in which the indicator was at such levels, Planb says that this year he expects an “absolute minimum” of $ 270,000 BTC.
“To be specific, I in fact expect at least three, possibly four or five months of red dots, which means an RSI of 80 and higher. What is now very interesting is if we look historically at those points, where the RSI was 80 or higher, then we will see that the average return in those periods – the red dot areas – was 40% +.
So that means that a month of 40%+ means of today’s $ 100,000 [would be] $ 140,000 in February. And because I expect red dots for several months, at least three or three times 40% would bring us from $ 100,000 to $ 270,000 …
So that is the absolute minimal bitcoin price that I expect in 2025: $ 270,000. “
At the time of writing, BTC acts at $ 96,789.
https://www.youtube.com/watch?v=CJRG1V3NGO0
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