What do you think about Rainbow Charts?

[hatshepsut93]

https://www.moonmath.win/

It seems like Bitcoin was in the range of this rainbow chart since 2014, so if you'd follow it and buy when the price is getting close to the lowest stripe and then sell when it's near the top stripe, you could make some seriously big profits.

Do you think Bitcoin will continue staying in this range, or will it break away?

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[BitMaxz]

Great website with a good rainbow chart. Anyway, I think this is good for newbies out there who don't know the history of bitcoin and I think it can help newbies to make a big profit with this chart.

About the movement of the price these days I think the price movement right now will stay at this range around $6k to $7k and for me the price movement still moving as normal as before because the price movement before and now is little bit the same except last year.

[eth9888]

backtest overfitting example.

just need one time where price extends beyond your unicorn rainbow your portfolio will be spilling rainbow blood

[richardsNY]

Everything right now depends on whether or not we will break $6000 in the coming days or weeks. I personally hope that the increase of last year wasn't all hot air and we will be able to maintain the $6000 level, but if we dip under $6000 anyway, then I of course won't mind buying in more. If we look at the dump that occurred a few hours ago, and directly at the pump that followed, someone tried to test the market and see if he/they could trigger people's stop loss orders. Once again a sign that we are being forced to go down instead of regular people selling, and if these entities keep pushing, they will succeed in making the regulars sell their coins.