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Bitcoin may be gearing up for a powerful breakout, according to one of the most followed analysts in the crypto space. PlanB, the pseudonymous creator of the stock-to-flow model, believes that a key chart signal is pointing toward new all-time highs very soon.
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PlanB says the monthly RSI is sitting right around 66, which matches the historical average of 65 during major uptrends. In his view, Bitcoin has spent the last couple of years under that level but is now poised to spend the next one or two years above it. This shift, he suggests, is a strong sign that a true bull market has already begun.
Speaking on his YouTube channel to over 211,000 subscribers, PlanB explained, “In my opinion, from now on, we’ll see new all-time highs, so that would be $110,000 and higher, followed by more monthly close all-time highs. Usually, those all-time highs, they’re not alone. They come in groups.”
The RSI, short for Relative Strength Index, is a momentum indicator ranging from 0 to 100. Readings over 70 often suggest an asset is overbought, while readings under 30 mean it could be oversold. Right now, PlanB views the RSI at 66 as a neutral-to-bullish signal that matches historic bull cycles.
He believes the current conditions mirror past explosive moves. “I think we will see 80-plus RSI months again, at least four of them, just like in the bull markets in 2021, in 2017 and in 2013,” he said. “Those high RSI numbers are associated, of course, with high monthly returns, monthly returns of over 40% per month.”
If Bitcoin were to average monthly gains of 40% over four months — as seen in previous cycles — it could move from the current $100,000 range to around $400,000. According to PlanB’s logic, history is about to repeat, and the upside could be massive if the pattern holds.
As of now, Bitcoin is trading around $104,208, up 1.26% in the last 24 hours and showing a weekly gain of more than 8%.
For PlanB’s complete analysis, including graphs, have a look at his latest video below: