- #crypto analyst PlanB notes Bitcoin's increasing strength in a recent tweet.
- Bitcoin's Relative Strength Index (RSI) is rising and currently at 50, indicating positive momentum.
- PlanB mentions the Market Value to Realized Value ( #MVRV ) ratio moving into the green zone.
- The MVRV ratio has reached a value of 29.5k, around 1.5 times Bitcoin's previous all-time high of 20k.
- PlanB suggests #bitcoin aims to enter the yellow area of the MVRV ratio, roughly 1.75 times the previous all-time high or about $35,000.
- The MVRV ratio compares #market value to realized value, offering insights into asset conditions, such as overvaluation or undervaluation.
- Moving into the yellow area indicates Bitcoin's value is based on #fundamentals rather than speculation, implying a more sustainable price trajectory.
