The Bitcoin Rainbow Chart: A Colorful Guide, Not Investment Advice
The Bitcoin Rainbow Chart is a long-term valuation tool that uses color bands overlaid on Bitcoin’s price chart to suggest potential buying or selling opportunities. It’s become a popular, albeit non-scientific, visual representation of Bitcoin’s price cycles, aiming to capture market sentiment and predict future price movements based on historical performance. Essentially, it’s a fun, simplified way to visualize Bitcoin’s volatility.