Bitcoin closed October at $109,000, marking the sixth consecutive month above $100,000, turning previous resistance into support, is considered a bullish sign. The analysis reviews bearish arguments that bitcoin may have reached its peak, since historically one to one-and-a-half years after halving Bitcoin reaches its peak and will likely crash to approximately the moving average at $50k. However, the bulls anticipate the rally has yet to start. The analysis separates the stock-to-flow model ($250k-$1 million target) from the technical and sentiment analyses. He believes $250k can be achieved and the relative strength index(RSI) overlaid on the price of Bitcoin at 66 indicates uptrend, and not overbought (red on the chart).