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How many people have been fooled by this Bitcoin rainbow chart in this cycle?
Since July 2022, the rainbow chart has been signaling "relatively cheap dollar-cost averaging," but comparing it to Bitcoin's actual price, which dropped from 25K to 15.5K and then rose from 15.5K to 126K, achieving a 5-6x increase. If you only blindly trust this Bitcoin rainbow chart, you definitely didn't sell the top at 126K because the rainbow chart at that point was just indicating a dollar-cost averaging signal.
Now, Bitcoin has fallen from 126K to 65K, a 50% cut. After reaching 37K in November 2023, the rainbow chart has once again returned to the "big sale" zone. Would you dare to buy in now?
By analyzing the rainbow chart along with Bitcoin's historical prices, the "big sale" zone where prices drop to is indeed a good area to buy in installments. Historically, this provides some reference for building positions during declines.