Plan B: The accumulation model confirms that the price of Bitcoin is in the $ 288,000 range
The anonymous trader "PlanB", the creator of the famous S2F model, has released a new update on the performance of Bitcoin after the recent crash.
Despite a 35% drop in bitcoin over the past month, PlanB has tried to reassure its followers that despite this drop, the S2FX remains intact.
"The new point in the accumulation model closed at $ 37,341. The price fell by 35% in May and we know that bitcoin will not climb in a straight line and a 35% drop in the bull market is likely. The situation is similar to 2013, and the accumulation model is moving in the same direction as before.
Bitcoin is below the 200-day moving average, indicating that bears are currently in control of the market.
The May closing price of $ 37.3 thousand has added a new orange dot to the S2FX, according to PlanB. So everything is ready to reach the $ 288,000 goal. Predictions based on this model indicate that bitcoin will reach $ 288,000 between 2021-2024.