According to Lookonchain, Bitcoin (BTC) reached a new all-time high last week, prompting traders to question whether the upward momentum will persist or if the market is peaking. Lookonchain cited four technical indicators, starting with the Rainbow Chart from blockchaincenter.net, which applies a logarithmic growth model to assess long-term valuation zones for BTC. This model currently places BTC in a significant valuation band, suggesting traders should watch for potential overbought conditions. Trading strategies can leverage such data to identify optimal entry and exit points given the historical accuracy of these indicators in signaling trend reversals. The focus on real-time, data-driven analysis is critical as high volatility persists in the crypto market. (Source: Lookonchain Twitter, blockchaincenter.net)

According to Michaël van de Poppe, the rainbow chart is a reliable indicator of Bitcoin's position in its cycle, suggesting that the current valuation is low. Van de Poppe highlights the Stock-to-Flow (S2F) model by Plan B, which forecasts a Bitcoin price of $500,000. This model provides a fair estimate for Bitcoin's potential valuation in this cycle, impacting trading strategies considerably. Source: Michaël van de Poppe.

According to Lookonchain, the updated Bitcoin Rainbow2023 Chart, which uses a logarithmic growth curve, indicates that Bitcoin holders can expect the price to surpass $250,000 in the current cycle. This tool serves as a long-term valuation guide for traders, suggesting strong potential upside for BTC. [Source: Lookonchain]

According to Lookonchain, the Rainbow Chart, a long-term valuation tool using a logarithmic growth curve, suggests that Bitcoin ($BTC) remains a strong hold. The updated Bitcoin Rainbow2023 Chart indicates a potential price peak above $250,000 in this cycle. This analysis could influence trading strategies by reinforcing long-term holding positions for Bitcoin. [Source: Lookonchain]

According to CryptoMichNL, the Bitcoin rainbow chart suggests that the previous cycle did not reach its expected extreme phase. If the current cycle extends over a longer period, Bitcoin's price is anticipated to increase automatically, potentially reaching $500,000.