Hot FOMO Bull Market for Bitcoin Likely Approaching As BTC Indicator Begins To Inch Upward: PlanB

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PlanB Predicts FOMO Bull Market for Bitcoin as RSI Rises

Quant analyst PlanB suggests Bitcoin (BTC) may be entering a FOMO-driven bull market as its Relative Strength Index (RSI) shows upward momentum.

Key Insights

BTC’s monthly RSI is trending upward, hinting at potential rallies in the coming months.
Historically, an RSI of 75 on the monthly chart has preceded extended bull runs.
PlanB expects BTC to reach $125,000 by July if the RSI hits 75, followed by a hot FOMO phase with RSI exceeding 80.

Market Context

Bitcoin’s RSI previously dipped in 2023 but is now resuming its upward trend, mirroring patterns seen in 2019. Past bull markets, including the 2021 cycle, saw multiple months with RSI above 80.

At the time of writing, BTC trades at $107,992.

Source: The Daily Hodl

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