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4 hours ago
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Rainbow Chart puts Bitcoin below lowest valuation band at $85,000

3 min

Bitcoin trades below the Rainbow Chart’s long-term trend valuation as October begins. Price at press time: $84,584. The uptrend remains intact above the 50-day SMA at $78,136 and the 200-day SMA at $71,404.

(SOURCE: CoinGlass)

Rainbow Chart: Long-Term Valuation Bands for October 31

  • Maximum Bubble Territory: $1.36M, historically tied to cycle tops and market euphoria.
  • “Sell. Seriously, SELL!”: $998,844, associated with elevated valuations and profit-taking.
  • FOMO Intensifies: $733,467, linked to rising speculative demand.
  • Is this a bubble?: $547,041.
  • HODL!: $396,987, often viewed as fair value on the model.
  • Still cheap: $287,747.
  • Accumulate: $209,292.
  • BUY!: $153,802.
  • Basically a Fire Sale: $115,355.

Bitcoin near $85,000 sits below the model’s lowest band, indicating a divergence between spot price and the chart’s long-term trajectory. The Rainbow Chart illustrates long-term valuation zones rather than month-end targets. A $1.36M print by October 31 is assessed as unlikely; the chart contextualizes prices under different market structures.

Short-Term Price Dynamics

  • Rally toward $87,000 stalled after reported whale profit-taking exceeding 30,000 BTC.
  • $87,000 aligns with the upper boundary of a two-week trading channel that has repeatedly capped price.
  • Immediate downside target: $82,500. A rebound attempt toward $87,000 could follow if demand from large holders reappears at that level.

Project Spotlight: Bitcoin Hyper (HYPER)

The historical Bitcoin price forecast model, the rainbow chart, points toward a euphoric price point of $1.36M for BTC, by October 31

  • Architecture: Layer 2 on the Solana Virtual Machine with settlement to Bitcoin. Non-custodial canonical bridge enables locking BTC and minting a wrapped representation on L2. SVM batches anchor to Bitcoin for security.
  • Tokenomics: HYPER used for gas, staking, governance, and premium features. Total supply: 21 billion. Allocations: 30% development, 25% treasury, 20% marketing.
  • Launch timeline: Mainnet in Q4 2026 with bridge, ecosystem dApps, and exchange listings.
  • Funding status: Public presale raised over $33.15 million toward a $33.58 million stage target. Current sale price cited: $0.0136867, with staking yield guidance at an estimated 35% APY before TGE.

Note: Promotional elements and external calls-to-action have been removed. The post originated on Coinspeaker.