PlanB Says Bitcoin's RSI Above 50 for Three Months Signals New Bull Market

What happened

Bitcoin closed October at $77,430, while the anticipated “Uptober” rally did not happen, according to analyst PlanB. Bitcoin’s relative strength index (RSI), a measure of recent price strength, stayed above 50 for a third consecutive month; PlanB says this signals a new bull market.

Confirmed

Global impact / market context

PlanB’s interpretation could strengthen investor expectations of rising Bitcoin prices, potentially encouraging more buying and increasing demand for Bitcoin-linked holdings. But the article gives no evidence that the indicator predicts future returns, and the missed October rally shows that the expected price advance did not occur.

Analyst inference

The report presents a mixed picture: Bitcoin ended October at $77,430, and its RSI remained above 50, yet the anticipated rally failed to materialize. The RSI reading is an indicator, not confirmation that prices will keep rising or that a bull market has begun.

Analyst inference

What to watch

1. Watch whether Bitcoin’s RSI remains above 50 in coming months; continued strength would preserve the condition PlanB cites, while a fall below it would weaken that signal. Analyst inference
2. Compare Bitcoin’s later price performance with PlanB’s bull-market claim, since the article reports that the expected October rally did not happen. Analyst inference
3. The article confirms only that RSI stayed above 50 for three consecutive months and that PlanB interpreted this as signaling a new bull market. Confirmed

Affected assets

• BTC — Bitcoin

Evidence

• binance.com