According to a report by PANews, Lookonchain analysis points out that although BTC reached a historical high last week, four key technical indicators show that the market has not yet peaked. The Rainbow Chart predicts that the peak of this cycle may exceed $200,000.
The current monthly RSI is 71.35, close to the overbought zone, but historical data indicates that there is still room for upward movement. The 200-week moving average heatmap is currently blue, suggesting that it is still a time to hold and buy.
The 2-year moving average multiplier shows that the price has not yet reached the top red line, and the market is still in the mid-stage.
