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Bitcoin Rainbow Chart, RSI, and other indicators all show that the price has not yet peaked, making it suitable to continue holding or buying

2025.05.26 20:16:33

On May 26th, lookonchain released an analysis stating that Bitcoin's price hit an all-time high last week. The following four indicators were used to analyze whether Bitcoin is currently at its peak: · Rainbow Chart: The latest 2023 Bitcoin Rainbow Chart shows that BTC is still a hodl, and the top of this cycle is expected to exceed $200,000. · Relative Strength Index (RSI) Chart: RSI ≥ 70 indicates that Bitcoin is in overbought territory and is likely to drop soon; RSI ≤ 30 indicates that Bitcoin is in oversold territory and is likely to rise soon. The current RSI is 71.35, and compared with historical data, $BTC does not seem to have peaked yet. · 200-Week Moving Average Heatmap: The 200-week moving average heatmap shows the current price point in blue, indicating that the price has not reached the top yet, making it a good time to hodl or buy. · 2-Year MA Multiplier: The 2-Year Moving Average Multiplier shows that the BTC price is between the red and green lines and has not yet touched the red line, indicating that the market has not reached its peak. Summary: Based on the analysis of the above four indicators, BTC has not yet reached the peak of this cycle, and the price still has room to rise, making it suitable to continue holding or buying.
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US stocks opened with mixed performance across the three major indices, while Western Digital rose 6.17%.

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