According to Odaily Planet Daily, Lookonchain released a market analysis on X, pointing out five indicators to observe whether Bitcoin has reached its top.
1. Rainbow Chart: A long-term valuation tool, the new Rainbow2023 chart shows that BTC is still cheap.
2. Relative Strength Index (RSI): With the current RSI at 61.87, BTC does not seem to have reached its peak yet.
3. 200-week moving average heat map: The current price point is blue, the price top has not yet been reached, it is the time to hold and buy.
4. Cumulative Coin Value Destroyed Days (CVDD): The current CVDD shows that the top of BTC has not yet been reached, which is a good buying opportunity.
5. Annual moving average multiplier: BTC price is between the red and green lines, and the market has not yet peaked.
