The Bitcoin Rainbow Chart is projecting that the maiden digital currency could trade within a broad band between $36,596 and $409,412 by September 30, 0 outlook comes as Bitcoin ( BTC ) faces bearish sentiment after slipping below the $110,000 support zone, sparking concerns it could retest the $100,000 1 press time, Bitcoin was trading at $108,400, down 0.3% in the past 24 hours and 1.7% over the 2 seven-day price chart.) and the yellow ‘Is this a bubble?’ range ($142,415 to $181,497). Above that, speculative energy dominates with the orange ‘FOMO intensifies’ band ($181,497 to $233,030). Near the top, the ‘Sell. Seriously, SELL!’ range stretches from $233,030 to $303,932, while the ‘Maximum Bubble Territory’ caps the spectrum at $303,932 to $409,412, levels historically associated with overheated market conditions and cycle tops.
Notably, while the Rainbow Chart is not a predictive model in the strict sense, it provides context for Bitcoin’s price cycles in relation to past bull and bear 3 image via Shutterstock
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