October 4th 2026, 2:00 PM
Bitcoin Price to Break Below Trend as October Begins
Key Summary
The Rainbow Chart, a long-term valuation model, suggests Bitcoin remains below its historical trend valuation as October begins, with a highest valuation zone of $1.36M on October 31, associated with extreme market euphoria and cycle tops. The model's bands indicate undervaluation relative to Bitcoin's long-term trend, with the 'BUY!' band at $153,802 and 'Still cheap' band at $287,747. Bitcoin's recent rally toward $87,000 stalled after whales took profits, with the immediate downside target at $82,500.
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Bitcoin Price Forecast: Rainbow Chart Highlights October 31 $1.36M Target
The Bitcoin price forecast long-term valuation model, the Rainbow Chart, suggests that the cryptocurrency remains below its historical trend valuation as October begins. The outlook comes as Bitcoin failed to reclaim the $90,000 level, a move that could have opened the door to a push toward six-figure valuations. At press time, Bitcoin was trading at […]Rainbow Chart Model Insights
The Rainbow Chart, a technical analysis tool, assesses the cryptocurrency's price movements and compares them to its historical trend valuation. The model suggests that Bitcoin's current price is below its historical trend valuation, indicating a potential downward trend.The failure to reclaim the $90,000 level indicates a lack of momentum for higher valuations. Bitcoin's price remains below its historical trend valuation, suggesting a potential downward trend.
Market Implications
The Rainbow Chart's forecast suggests that Bitcoin's price may remain below its historical trend valuation, potentially impacting its long-term valuation and market sentiment.#Bitcoin#US#Crypto#MarketForecast