Bitcoin (BTC) is headed to what’s arguably a mathematically “programmed” all-time excessive of $200,000 or more, guidelines the present day data.

In a chain of tweets on Oct. 4, famous Twitter commentator TechDev highlighted acquainted bullish conduct in Bitcoin’s relative power index (RSI).
2021 Bitcoin RSI definitely follows the pattern

While nevertheless lingering underneath targets, including the ones of the Stock-to-Flow model, BTC/USD isn’t brief on bullish rate predictions for this yr and beyond.

The relative power index (RSI), a traditional indicator used for figuring out overbought and oversold markets at a selected rate, is becoming a member of them, suggesting that the second one section of the 2021 bull run is simply getting started.

Just as Bitcoin rate movement has long gone in four-yr cycles, so too has the RSI exhibited styles of conduct thru the years.

“Each cycle has had 2 peaks. 2021 now shifting in the direction of its second,” TechDev explained.

In every four-yr cycle, the RSI hits a height at a degree barely decrease than the last — this likewise allows to perceive a cycle pinnacle barely in advance. Where BTC/USD can be on the time, however, is a miles much less actual science.

“Interesting to notice the eight-yr down-trending resistance,” TechDev introduced.

Bitcoin RSI vs. BTC/USD annotated chart. Source: TechDev/Twitter
“Too programmed”?

Further figures advocate that the BTC rate pinnacle this time round ought to be $200,000 or more.

Related: BTC bull run has ‘as a minimum 6 months to go’ — five matters to look at in Bitcoin this week

“200–300K #Bitcoin appears nearly too programmed,” TechDev introduced along a exceptional chart displaying Fibonacci levels.

These likewise hinge at the four-yr halving cycle, with every height an order of value better than the last. For 2021, because of this the $20,000 height from 2017 must grow to be some thing from $200,000 to $300,000.

This well coincides with the Stock-to-Flow Cross-Asset model, which requires a median rate of $288,000 all through the present day halving cycle finishing in 2024.

Stock-to-Flow author PlanB has however stated that nearby highs all through that point ought to without difficulty be double that average, setting Bitcoin at over 1/2 of 1,000,000 dollars.