Analyst PlanB said Bitcoin closed October at $77,430, while the much-discussed "Uptober" rally did not materialize as expected. In the same post, he pointed to Bitcoin’s Relative Strength Index, or RSI, which has remained above 50 for three straight months. PlanB said that reading signals the start of a new bull market. The comments were cited by ChainCatcher in a short market update published on Nov. 1. No additional price data or market details were provided in the source item.
Analyst PlanB said Bitcoin closed October at $77,430, adding that the so-called "Uptober" did not play out as expected.
He also said Bitcoin’s Relative Strength Index, or RSI, has stayed above 50 for a third consecutive month, which he described as a sign that a new bull market is beginning.
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