Popular quant analyst PlanB says the recent Bitcoin (BTC) rally isn’t the bull trap many investors are weary of.
PlanB tells his 1.8 million Twitter followers that several benchmark indicators are suggesting that what many believe is a bull trap is in fact the start of a new bull cycle.
“To be clear, in my opinion current Bitcoin pump is not a bull trap but the (early) start of the next bull run.”
Plan B says that an upward move of the Relative Strength Index (RSI) indicates bullishness for Bitcoin, even though the RSI remains at the historic lows seen in both 2015 and 2019.
“Bitcoin is getting stronger (RSI).”
He says that Bitcoin has already found its bottom for the current bear