“Bitcoin can see $ 92,000 by the end of April”

Bitcoin (BTC) could see $ 92,000 in the next two weeks, according to new data.

Analyst PlanB, the creator of the stock flow Bitcoin price model, in his post he shared on wednesday He said that the BTC / USD pair still has energy despite the rise this week.

PlanB focused on the relative strength index (RSI), a classic measure used to measure the progression of price increases.

RSI can give an idea of ​​whether Bitcoin is too high or low at a certain point in the bull market.

You may be interested in: What is the Relative Strength Index (RSI)? How does it work?

The RSI is currently measured at 92/100 points. While the RSI is nearing its peak, it is at least three points away from the 2013 and 2017 bull market, and Bitcoin needs to rise much more to reach this level.

PlanB said, “Bitcoin looks strong when the RSI is 92 points. “The RSI climbed over 95 points in the bull markets of 2011, 2013 and 2017”.

“I calculated the level at which Bitcoin should close April for the RSI to reach 95 points: $ 92,000. Let’s watch and see how the listing for Coinbase will have an effect today. “

The RSI of the BTC / USD pair and its place in the 4-year halving cycle. Source: PlanB / Twitter

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