Is BTC a double top? Or is the bull market restarting?
Understanding the 🌈 rainbow chart will clarify this for you!
1️⃣ At the beginning of February, it peaked and retreated. In early April, the V recovery succeeded, and Bitcoin strongly returned above 100,000 USD, peaking at 105,800.
This year's market clearly breaks the seasonal pattern of previous years from Chinese New Year to the beginning of the year to April, with a stronger and faster trend!
2️⃣ The rainbow chart shows: after stabilizing at 100,000, the next target is 143,000, and further up is 193,000, which just happens to be the doubling space corresponding to institutional target price ranges.
3️⃣ The Federal Reserve is expected to have three more rate cuts this year. Although the probability in June is low, the speculation expectations for July and August are sufficient.
Combined with the liquidity easing trend, BTC could really be heading towards the 'one million RMB' era!
