Bitcoin RSI: Unleashing a Prolonged Bull Run, PlanB Predicts Months of Overbought Conditions

Key Points

1. PlanB notes Bitcoin's RSI is currently around 75, suggesting a prolonged overbought condition similar to past bull cycles (2011, 2013, 2017, 2021).

2. Historical data shows Bitcoin's RSI can remain above 70 for months during aggressive bull markets, defying traditional market expectations.

3. A high RSI in Bitcoin's context doesn't always signal an imminent correction but can indicate continued strong performance during bull phases.

4. PlanB's analysis combines the RSI with his Stock-to-Flow (S2F) model, which predicts Bitcoin's price based on scarcity, offering both short-term and long-term insights.

5. Investors are advised to consider multiple indicators and market context rather than relying solely on RSI, due to Bitcoin's inherent volatility.