Analyst PlanB Says To Ignore Market Volatility And Focus On This Instead

• PlanB is confident that the 200-Moving average trend is bullish
• He advises market players to prioritize it over the increasing price volatility.
• Bitcoin remains in a critical position at this time as daily loses crosses 6%.

Market Volatility is not enough to drown the new bullish metrics for Bitcoin (BTC). This is according to PlanB – Founder of the Bitcoin Stock-to-Flow-model. In a recent tweet, PlanB notes that Bitcoin’s 200-week moving average is still increasing.

Bitcoin might just be on its way out of a repetitive bear cycle

He advises that the market ignores the rising volatility that both Bitcoin and other altcoins are experiencing at this time.

#bitcoin 200 week moving average still increasing. Ignore volatility, focus on the trend. pic.twitter.com/6nruFNj9ne

— PlanB (@100trillionUSD) February 21, 2022

Per the above tweet, the 200-week moving average is surging, implying that buying exceeds trading at this time. Although the responses to the tweet suggest that many market players, do not consider the moving average a fitting metric that accurately indicates bullishness for the leading cryptocurrency.

This is the second metric the Bitcoiner is pointing to, as a potential catalyst for a Bitcoin bull run. Earlier this week, PlanB asserted that the Bitcoin Relative Strength Index (RSI) is also a sign that the market is positioned for a greener market. At the time, the RSI index was around 55, indicating that it was at a neutral state, and attempting an upward retest.

#bitcoin weekly RSI looking incredibly bullish🔥 pic.twitter.com/D6pV1dEBWQ

— PlanB (@100trillionUSD) February 15, 2022

PlanB is not the only Bitcoin proponent with high hopes for the benchmark cryptocurrency. The strategists at Bloomberg have also been bullish, with the $100,000 price point still being targeted this year. In contrast, Du Jun – co-founder of Huobi exchange – is quite bearish on the asset. He recently disclosed that he sees Bitcoin attempting a bull run between late 2024, but not anytime soon.