When Will Bitcoin’s (BTC) Recession End And What Is The New Goal?

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PlanB commented on the trajectory of BTC.

Bitcoin (BTC), the leading cryptocurrency , has been in consolidation and decline since reaching the $ 65,000 level. Although the Bitcoin price dropped to $ 50,000 caused a great panic in the market, the recovery was soon achieved, but there is still no technical confirmation whether the uptrend continues.

Everything Is OK For Bitcoin

PlanB, the famous cryptocurrency analyst, who published the S2F model of the increase in the Bitcoin price, emphasized that there is no cause for concern. PlanB emphasized that the Bitcoin price is progressing to the target step by step, and the closing of $ 57,200 in April is also something to be expected. In the tweeting series he shared on Twitter, PlanB stated that BTC closed with a slight decrease only in April after closing with an increase for 6 months. Emphasizing that this is an excellent trajectory for the $ 100,000 target , he reminded investors that the main target is $ 100,000 .

In addition to this prediction, PlanB commented on the famous S2F model and the trajectory of Bitcoin’s RSI indicator. Stating that the RSI has reached the 90 level and may soon push 95, the analyst pointed out that $ 65,000 could be exceeded, although he did not give a clear target.

The bitcoin price has been traded at over $ 56,000 as of the time this article was written, and has dropped 1.7% in the last 24 hours. The continuation of the rise of altcoins despite this decrease in the BTC price indicates that BTC investors may have to wait for a while.

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