After The Bitcoin Crash: Will It Rise Or Drop Again? 5 Key Indicators
- February 04, 2025
- Source: https://www.newsbtc.com/bitcoin-news/after-bitcoin-crash-recover-or-drop-again/
In the aftermath of yesterday’s Bitcoin crash, market participants are closely examining whether the leading cryptocurrency by market capitalization can rebound or if it faces the prospect of another decline. In a post shared on X today, February 4, on-chain analysis data provider Lookonchain offered insights into five critical indicators that may help traders and investors assess Bitcoin’s current position. “The price of Bitcoin experienced a major crash yesterday! Will it continue to rise or fall from the top? Let’s use 5 indicators to see if BTC is at its peak now,” Lookonchain writes. #1 Bitcoin Rainbow Chart Described by Lookonchain as “a long-term valuation tool that uses a logarithmic growth curve to forecast the potential future price direction of BTC,” the Rainbow Chart is often employed to gauge whether Bitcoin might be undervalued, overvalued, or approaching a key turning point. “The NEW Bitcoin Rainbow2023 Chart shows that you can still hold BTC, and BTC will top above $250K this cycle.” Related Reading: Bitcoin Traders Fearful For First Time Since October: Buying Signal? While this chart suggests a bullish long-term trajectory, its forecasts are based on historical price patterns and may not account for unforeseen market events. Nonetheless, Lookonchain’s data
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