PlanB: Bitcoin Reclaims 50-Week Moving Average, Confirms End of Bear Market and Sets Sights on $89,000

Odaily reports that renowned analyst PlanB has stated that Bitcoin has reclaimed the 50-week moving average at approximately $79,000, with the next target being the 100-week moving average at around $89,000, and claims to have confirmed that the Bitcoin bear market is over.

PlanB noted that Bitcoin's August closing price was $78,571, and multiple indicators are beginning to improve, with the proportion of Bitcoin in profit rising from 50% to 72%, and the monthly RSI climbing from 41 to 51. Therefore, he judges that the market bottom has passed and remains bullish on the outlook.

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