Analyst: BTC stands above the 50-week moving average looking at 89,000 USD, confirming the end of the bear market

Well-known analyst PlanB posted on the X platform, stating that Bitcoin has risen above the 50-week moving average (approximately $79,000), with the next target being the 100-week moving average (approximately $89,000).

PlanB also mentioned that he has confirmed the end of the bear market, with the closing price in August at $78,571. Multiple indicators have started to improve, with the percentage of Bitcoin in profit rising from 50% to 72%, and the monthly RSI increasing from 41 to 51. Therefore, he judges that the bottom has passed and the outlook is bullish.