Bitcoin (BTC) prices have returned to the $120,000 level after reaching a new high of $124,196 in today’s trading session. Despite the latest rally, Planb cites Bitcoin RSI to suggest bearish predictions, suggest bearish predictions, citing Bitcoin RSI to suggest bearish predictions.
What Bitcoin RSI reveals
Based on the chart, PlanB revealed in an X post that Bitcoin’s monthly relative strength index (RSI) is nearly 75. Analysts further questioned whether RSI values above 80 could indicate a potential change in BTC prices.
Naturally, RSI is a technical indicator that can provide insight into the price of digital assets. Generally, RSIs below 30 indicate overselling, while values above 70 indicate an asset being oversold.
Based on historical data, Bitcoin It is known to hit an RSI of 75 when bullish conditions are strong. So, as predicted in the charts posted by PlanB, if the RSI exceeds 80, Bitcoin prices could result in a short-term pullback.
As expected, Bitcoin Monthly RSI is almost 75 (orange).
Will RSI 80+ (red dot) and the real bull market appear again? pic.twitter.com/ks6jmeqtnk– Planb (@100trillionusd) August 14, 2025
However, if a 75 RSI holds, the BTC could collect as much as $170,000 in this cycle. This has suggested analysts via community-based polls.
As of press time, the BTC price was around $120,690, representing a 1.2% increase over the past 24 hours. Furthermore, investors continue to operate as daily trading volumes grow by 30.3% to $97.8 billion.
Bitcoin has hit a new milestone
Bullish momentum in the BTC market has pushed major coins to new milestones. As U.Today It has been reportedBitcoin surpassed Alphabet, the parent company of search giant Google in its market rating.
Bitcoin achieved this feat after recording a new record peak of $124,128 early in today’s trading session. The main coins also broke another record and again surpassed gold during the year.
Following the latest price surge, Polymarket Bettors predicted that BTC could exceed $130,000 this August, there was a 46% chance that BTC could exceed $130,000.
With a more bullish prediction, Mike Novogratz, founder of Galaxy Digital, insisted BTC could reach $1 million future.
