Bitcoin (BTC) is headed to what is arguably a mathematically "programmed" all-time high of $200,000 or more than, hints the latest information.

In a series of tweets on Oct. 4, popular Twitter commentator TechDev highlighted familiar bullish behavior in Bitcoin'due south relative strength index (RSI).

2021 Bitcoin RSI simply follows the pattern

While still lingering below targets, such as those of the Stock-to-Flow model, BTC/USD is not brusque on bullish toll predictions for this year and across.

The relative strength alphabetize (RSI), a classic indicator used for identifying overbought and oversold markets at a particular price, is joining them, suggesting that the 2nd phase of the 2022 balderdash run is just getting started.

Simply every bit Bitcoin price action has gone in four-year cycles, and then too has the RSI exhibited patterns of behavior through the years.

"Each bicycle has had 2 peaks. 2022 now moving toward its second," TechDev explained.

In each four-yr cycle, the RSI hits a summit at a level slightly lower than the final — this likewise helps to identify a bicycle top slightly in advance. Where BTC/USD will exist at the time, nonetheless, is a much less exact science.

"Interesting to annotation the eight-year down-trending resistance," TechDev added.

"We hit that and it'due south probably acme. Or at least a place to seriously re-evaluate take chances."
Bitcoin RSI vs. BTC/USD annotated nautical chart. Source: TechDev/Twitter

"Too programmed"?

Further figures suggest that the BTC price top this fourth dimension around could exist $200,000 or more.

Related: BTC bull run has 'at least 6 months to go' — 5 things to watch in Bitcoin this week

"200–300K #Bitcoin looks nearly too programmed," TechDev added alongside a different chart showing Fibonacci levels.

These too swivel on the four-year halving cycle, with each peak an order of magnitude higher than the last. For 2022, this means that the $20,000 peak from 2022 should get anything from $200,000 to $300,000.

This neatly coincides with the Stock-to-Flow Cross-Asset model, which calls for an boilerplate price of $288,000 during the current halving bike ending in 2024.

Stock-to-Catamenia creator PlanB has even so said that local highs during that time could hands be double that average, placing Bitcoin at over half a million dollars.