PlanB: Bitcoin closed October at $77,430, with RSI above 50 for three consecutive months, potentially signaling the start of a new bull market.
Original headlinePlanB：比特币 10 月收于 77,430 美元，RSI 连续三个月高于 50，或预示新一轮牛市开启
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Bitcoin closed October at $77,430, falling short of the "Uptober" rally traders anticipated, according to analyst PlanB, who shared the assessment on X on November 1. Despite the missed monthly gain, PlanB highlighted that Bitcoin's relative strength index (RSI) has held above 50 for a third consecutive month, a signal he interprets as steadily improving market momentum. The analyst suggested this technical reading may indicate a new bull market cycle is forming. The takeaway for traders: momentum indicators are diverging from price action, and whether Bitcoin can convert sustained RSI strength into renewed upside in November will be the key thing to watch.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
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Bitcoin (BTC), PlanB
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