Crypto Market Remains Under Pressure While BTC Keeps Falling Below $30K – Plan B

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BTC is in the midst of a bear market. The cryptocurrency market remains under duress. That’s because BTC keeps falling below the critical $30K threshold. The bear market, according to PlanB, the originator of the S2F system, is nearly gone. The intervals with the RPMA 1 and the RSI 50 have excellent buying opportunities. PlanB, on the other hand, believes that the RSI and RPMA would be taking some time to climb again.

Bitcoin (BTC) Has Reached Its Bottom As The Bear Hug Relaxes

PlanB reported that the price of BTC has formed another bottom for the upcoming bull market. This week’s Bitcoin trend followed the predictions by PlanB. The BTC price hit a low close to $28.5K. PlanB tweeted that the bear market will soon be over and that the value should begin to rise again. He feels the RSI and RRPMA indicate a bottom for BTC at present levels. Nevertheless, a rebound could take six to nine months or one to two months. BTC is presently trading sideways towards the $30K mark.

The Bitcoin cycle is best represented by the (RPMA, purple). Although the RSI is comparable, it might be deceiving in the most important of situations. The best part is that the bear market is nearly ended. He is just waiting for the RSI and RPMA to rise again.

PlanB found a link between the United States stock market and BTC, particularly BTC and S&P 500. Since November last year, stocks and BTC have fallen. For now, the S&P 500 has entered a bear market after falling by over 20%. Long-term investors should expect higher returns if BTC’s value rises.

PlanB Predicted a New Bull Market on 16th May

The S2F model predicted that PlanB would make $100,000 in December last year. After hitting a peak of about $69,000 in November, the Bitcoin price reached a bear market. A low of around $26.35K was reached on 12th May by the value, which has since risen.

PlanB says that the market’s pressure is because of BTC making another bottom. Based on another news, the BTC value will be bottoming out within the second half of this year. It might be in October. A bull run will start, moving prices to around $100,000.

In December last year, he still hoped for a second bull run wave. However, by Q1, it was evident that the BTC bull market had ended. Since the peak in April last year, they have been in a bear market. They are currently constructing a foundation. After that, a new bull run will begin.

Renowned analysts like Michaël van de Poppe and Peter Brandt have expressed sentiments. Peter Brandt forecasted a bottom close to $27K to expect a rise. Michaël van de Poppe believes the BTC value can fall to about $28K before continuing its bullish trend. The long-term short holdings development and long one dissolution explain the price trend. The whales’ acquisitions and sales now keeps the value near $30K.

BTC’s Halving Remains the Most Important Sign

Despite PlanB’s bearish outlook, his fans assume the bear market is far from over. That’s as a result of the BTC halving. The tendency indicates it’ll reach the bottom in October when the BTC price will confirm a return. A v-shaped rebound in the 2Y realized value and RSI could signal the conclusion of the bear market. That could be within the next two months or so. Within a year, we may witness a new record high.


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