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Analysis: The rainbow chart and the five indicators, including the relative strength index, suggest that BTC has not yet reached its peak.
BlockBeats news, on August 29th, according to Lookonchain's article on X, five indicators can be used to observe whether BTC has reached its peak: 1. The Rainbow Chart is a long-term valuation tool that uses a logarithmic rise curve to predict BTC's potential future price trends. The new BTC Rainbow2023 chart shows that BTC is still very cheap; 2. The Relative Strength Index (RSI) chart ≥ 70: BTC is in an Overbought state and may soon fall. ≤30: BTC is in an Oversold state and may soon pump. The current RSI is 61.87, which seems to indicate that BTC has not yet reached its peak compared to previous data; 3. The 200-week moving average heatmap shows that the current price point is blue, which means that the price top has not yet been reached, and it is a time to hold and buy; 4. The Cumulative Value Days Destroyed (CVDD) indicates that when the BTC price hits the green line, the BTC price is undervalued, indicating that it is a good time to buy. The current CVDD shows that the top of BTC has not yet been reached; 5. The Annual Average Multiplier shows that BTC's price is in the middle of the red and green lines. It has not yet touched the red line, and the market has not yet peaked.