Overseas blogger PlanB: BTC bull market will continue and US$40,000 may become the price bottom line

Source: Blockchain Knight

PlanB, a well-known Crypto asset analyst and creator of the S2F model, expressed optimism about the bull market after BTC is about to be halved.

On Saturday, PlanB first took a deep dive into the S2F chart, emphasizing that not much has changed since last month. There is still plenty of time before the April halving, with “three more blue dots” to bridge the gap and achieve the expected upward trajectory.

When talking about the RSI (relative strength index), PlanB emphasized that the index was stable at 62 points, the same as last month. He dismissed concerns about a potential decline in BTC, stating that as long as the RSI is above 50, BTC’s upward trend will not change.

The expert further highlighted the 200-week moving average and noted that the price of BTC is currently deviating from the average price of $31,000. Historical patterns suggest that during bullish cycles, BTC tends not to fall below this moving average.

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PlanB highlights how BTC is holding prices above the real price and how sellers are continuing to make profits, which is consistent with typical indicators of a bull market.

PlanB added: “BTC is higher than all these actual prices, they are all rising, BTC will stay high at times...so during the bull market, we see BTC going back to The actual price, we know is currently $40,000. So, this may mean that BTC will never go below $40,000 again.”

Finally,PlanB talked about the market cycle, arguing that BTC is still in the accumulation phaseExpect the arrival of the red dot on the S2F chart, a signal historically associated with the end of accumulation and the start of a bullish move.

It is worth noting that this expert’s analysis coincides with his article, in which he emphasized BTC’s upcoming scarcity and compared it to gold and real estate.

After the April halving, PlanB asserts that BTC’s scarcity will exceed that of gold and the real estate market, potentially pushing BTC to exceed the 500,000 mark.

PlanB posted on social platform BTC price is above $500,000."