$BTC is trading near the lower levels of the Rainbow Chart, making some investors believe BTC could be undervalued. 🌈
📉 The Rainbow Chart compares Bitcoin’s price with its long-term growth trend. In previous bear markets, similar levels appeared during periods of market weakness.
💡 However, being undervalued doesn’t guarantee that the bottom is in.
Bitcoin may look cheap compared with its historical trend, but stronger buying pressure is still needed to confirm a sustained recovery. ₿
#Bitcoin❗
📉 The Rainbow Chart compares Bitcoin’s price with its long-term growth trend. In previous bear markets, similar levels appeared during periods of market weakness.
💡 However, being undervalued doesn’t guarantee that the bottom is in.
Bitcoin may look cheap compared with its historical trend, but stronger buying pressure is still needed to confirm a sustained recovery. ₿
#Bitcoin❗