Hello everyone! Today’s 100-day challenge in the cryptocurrency industry, let’s talk about the Bitcoin Rainbow Chart, which is a visual tool that helps investors simply judge the price trend of Bitcoin. Although rainbow charts do not have precise technical analysis capabilities, they are loved by many investors because of their intuitive and interesting methods. Today I will show you how this rainbow chart helps us interpret the market status of Bitcoin!
The market’s emotional spectrum 🌈
Think of the Bitcoin rainbow chart as an emotional spectrum, reflecting market sentiment through different color ranges: from "calm and wait and see" to "crazy buying." As Bitcoin prices fluctuate, investors can use the ranges of the rainbow chart as a simple reference