Is Bitcoin’s Price Set for a Pullback? Analyst Signals Potential RSI Roadblock

Bitcoin’s price experienced a sudden downturn, dropping back to the $120,000 level after reaching an all-time high of $124,196. However, PlanB, known for his stock-to-flow model, suggests the market may experience a short-term correction due to Bitcoin’s RSI readings. PlanB, using data on the monthly RSI, highlighted the index at almost 75, prompting questions about whether an RSI value above 80 could signal a potential price shift.