Renowned crypto analyst PlanB stated that he does not expect a significant market correction before Bitcoin 
$79,405 reaches six-figure prices. In a post on the social media platform X, he noted that Bitcoin holders are taking profits before hitting the $100,000 mark. His comments have sparked considerable interest among market participants.
Sales Accelerate Before $100,000 Threshold
According to PlanB, Bitcoin holders are currently realizing profits at significant levels. He emphasized that Bitcoin sales in November occurred with an average gain of 60%, suggesting these sales will conclude before reaching $100,000.
The analyst stated, “Who is selling Bitcoin now? It’s simple: Sellers are realizing profits,” and noted that those selling expect a correction around the $100,000 level. However, he cautioned that this expectation may not materialize. PlanB suggested, “There may not be a dip at the $100,000 level,” offering a warning to the market.
Strong RSI and Realized Price Support
The analyst indicated that Bitcoin’s Relative Strength Index (RSI) has not yet peaked during bullish cycles, currently sitting at 74. PlanB asserted that an RSI exceeding 80 would signal a new upward trend for Bitcoin.
Additionally, he pointed out Bitcoin’s support at its two-year realized price level, which is currently calculated at $60,000. PlanB recalled that in previous bull markets, Bitcoin did not fall below this level.
In conclusion, as Bitcoin moves towards the $100,000 level, profit-taking in the market continues. However, PlanB believes these sales will not exert significant pressure on prices. His predictions are being closely monitored by market participants, with developments in the Bitcoin market being followed closely.
