TREE NEWS reports: Bitcoin closed October at $77,430, missing the rally traders call “Uptober,” according to S2F model creator PlanB. PlanB said the bitcoin RSI has held above 50 for three consecutive months and called that a signal of a new bull market beginning.
PlanB: Bitcoin RSI Above 50 for Third Straight Month Signals New Bull Run
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AI take
This is a case of a well-known modeler leaning on a single technical gauge while the price action he cites fell short of the seasonal narrative he invoked — a tension worth noting rather than resolving. RSI persistence above 50 is a momentum observation, not confirmation, and PlanB's framing carries weight mainly because of his following among model-driven traders. The open question is whether the momentum signal he highlights holds up if price continues to lag the seasonal pattern he himself flagged as missed.
Generated by AI for reference only.
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