Bitcoin Rainbow Wave Recalibrated Amid Price Rebound
A revised version of the Bitcoin Rainbow Wave indicator has been released by PrismCharts on TradingView. This recalibration is in response to the recent price action, which peaked at around $126,000 and fell short of the original projection's target of over $250,000.
The original model used a power-law trend with a curvature term added to better fit the data. However, after re-fitting all five parameters against the full 2013-2026 set of cycle tops and bottoms, a single curvature term was introduced. This change allows for more accurate predictions.
The revised model shows that the Bitcoin price has reached its fair value zone, which is currently around $71,000. The lower band indicates a possible price drop to around $52,000, while the upper band projects a peak of approximately $300,000 in mid-2029.