The Rainbow Bitcoin chart is well known.
One of the indicators that shows you the collection areas in the supermarket and also the exit areas in the mall
If we look at it from the beginning (the first red circle in the picture is for the collection areas in 2012), we will see that the collection areas did not reach the last blue bottom. You must take into consideration that each of these colors makes a difference between heaven and earth as an investment.
If we see the summit after that, we will see that it has crossed the red line.
The next cycle we will see that it touched the last bottom (the blue lot) and then the top touched the red color.
What I want to focus on is the 2021 peak and compare it to the peak before it. We will see that Bitcoin lost almost the two red colors and even lost the orange color on the indicator, if you notice.
Now, where will Bitcoin stand at the top of this cycle? Of course, these are all opinions, and I have seen many people saying that 200,000 is coming, and I am one of the people who might be convinced of this, but I do not think this will happen in this next cycle.
Personally, I like to walk along the wall. I say that if we reach the first yellow color, it will be considered something fantastic, and if we cross it a little, it will be wonderful.
But I will start making my profits until I reach the upcoming green areas and consider it the top of Bitcoin (of course, alternative currencies need time to catch up with the last wave), but what I mean is that I will not wait until the yellow color.
Personally, I do not expect Bitcoin to reach 170,000, although I was convinced that it could cross
A price of 150 thousand or less is very reasonable for Bitcoin and allows you to walk safely.
I hope to hear your opinions in the comments because in the end we all want to benefit.
This is not the only indicator that I rely on, of course, there are many others.