The Rainbow chart, one of the most famous charts of Bitcoin (BTC), tells us that we are in the buy zone.
The Rainbow chart, which averages all Bitcoin’s price movements since 2010, has been pointing to the buy zone for a while. Finally Bitcoin price 61 thousand dollars The chart, which gave a sell signal at the level, came to the buy zone after the declines and the bear season that lasted almost 2 years.
On the chart purple, blue and in that range cold colors accumulation and indicates the right times for investment. On the other hand, in the upper band red, orange and other hot colors increased risk appetite, FOMO and represents sales.
Bitcoin in the past period 5 different trips It rose to the area with warm colors and the Rainbow chart gave a sell signal to investors.
Looking at the chart, it can be seen that major upward movements occur especially after Bitcoin halving periods. At this point Bitcoin’s next halving around 6 months while the graph is “getThe fact that it is in the ” region gives hope for investors.
Bitcoin finally Rainbow When it reached the buy position on the chart, the date showed the beginning of 2020 and the price 6-7 thousand dollars He was watching on the bandwagon. Months after that buy signal, the halving took place and in the following months, the price of Bitcoin rose. up to 58 thousand dollars had risen.
