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Share this article<\/h4>\n<\/p><\/div>\n<\/p><\/div>\n\n\n- The Bitcoin Rainbow Chart and other key metrics signaled \u2018BUY\u2019 at press time.\u00a0<\/span><\/em><\/li>\n
- \u00a0Market pundits expect bullish Q4 and 2025 \u2014 Should you hold on or jump in?\u00a0<\/span><\/em><\/li>\n<\/ul>\n
Bitcoin [BTC]<\/span><\/a> has been consolidating within $60K\u2014$70K for the past seven months. Despite the boring price action, the current BTC value was still a great buy opportunity ahead of a historically bullish Q4.\u00a0<\/span><\/p>\nAccording to the Bitcoin Rainbow Chart, BTC\u2019s current value was still within the \u2018buy\u2019 zone. <\/span><\/p>\nIn fact, since its March and subsequent retracement, the asset has been firmly within the \u2018accumulate\u2019 and \u2018buy\u2019 zones.\u00a0<\/span><\/p>\n\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BM-Pro-Bitcoin-Rainbow-Price-Chart-Indicator-2.png\")
<\/a><\/p>\nSource: BM Pro<\/p>\n<\/div>\n
For context, the Rainbow Chart gauges BTC valuation based on historical prices but is presented visually through rainbow colors. <\/span><\/p>\nLower color bands signal undervalued BTC, while higher bands denote overheated market and potential corrections.\u00a0<\/span><\/p>\nBitcoins Is BTC still discounted?<\/h2>\n
Other key valuation metrics also signaled that BTC was relatively \u2018cheap\u2019 at press time value. <\/span><\/p>\nAccording to the Pi Cycle Top indicator, BTC was far from hitting this cycle\u2019s top, as denoted by the wide gap between the 111-day MA (Moving Average) and 350-day MA multiple (350 DMAx2).\u00a0<\/span><\/p>\n\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-01-132735.png\")
<\/a><\/p>\nSource: Coinglass<\/p>\n<\/div>\n
For the unfamiliar, the Pi Cycle Top metric has effectively captured BTC cycle tops with a 3-day accuracy. Historically, cycle tops have been hit after 111 DMA hiked and crossed 350DMAx2.<\/span><\/p>\n
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- The Bitcoin Rainbow Chart and other key metrics signaled \u2018BUY\u2019 at press time.\u00a0<\/span><\/em><\/li>\n
- \u00a0Market pundits expect bullish Q4 and 2025 \u2014 Should you hold on or jump in?\u00a0<\/span><\/em><\/li>\n<\/ul>\n
Bitcoin [BTC]<\/span><\/a> has been consolidating within $60K\u2014$70K for the past seven months. Despite the boring price action, the current BTC value was still a great buy opportunity ahead of a historically bullish Q4.\u00a0<\/span><\/p>\n
According to the Bitcoin Rainbow Chart, BTC\u2019s current value was still within the \u2018buy\u2019 zone. <\/span><\/p>\n
In fact, since its March and subsequent retracement, the asset has been firmly within the \u2018accumulate\u2019 and \u2018buy\u2019 zones.\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: BM Pro<\/p>\n<\/div>\n
For context, the Rainbow Chart gauges BTC valuation based on historical prices but is presented visually through rainbow colors. <\/span><\/p>\n
Lower color bands signal undervalued BTC, while higher bands denote overheated market and potential corrections.\u00a0<\/span><\/p>\n
Bitcoins Is BTC still discounted?<\/h2>\n
Other key valuation metrics also signaled that BTC was relatively \u2018cheap\u2019 at press time value. <\/span><\/p>\n
According to the Pi Cycle Top indicator, BTC was far from hitting this cycle\u2019s top, as denoted by the wide gap between the 111-day MA (Moving Average) and 350-day MA multiple (350 DMAx2).\u00a0<\/span><\/p>\n
\n<\/a><\/p>\nSource: Coinglass<\/p>\n<\/div>\n
For the unfamiliar, the Pi Cycle Top metric has effectively captured BTC cycle tops with a 3-day accuracy. Historically, cycle tops have been hit after 111 DMA hiked and crossed 350DMAx2.<\/span><\/p>\n
- \u00a0Market pundits expect bullish Q4 and 2025 \u2014 Should you hold on or jump in?\u00a0<\/span><\/em><\/li>\n<\/ul>\n
![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/Screenshot-2024-10-01-133230.png\")
<\/a><\/p>\n![\"bitcoins](\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/10\/BTCUSDT_2024-10-01_14-37-15.png\")
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