Bitcoin Rainbow Chart Says Price Is Ranging Above $60,000 For A Reason, Here’s Why

Crypto analyst Kabuki has explained why the Bitcoin rainbow chart shows that the price range is above $60,000. The analyst noted that BTC is mirroring past cycles and suggested that a base may be forming soon for the leading crypto.  Bitcoin Rainbow Chart Shows Why Price Is Ranging In an X post, Kabuki said that Bitcoin is stuck between $65,000 and $68,000 for a reason and that this isn’t random but simply BTC repeating history. He noted that in 2017, a base formed, which led to a parabolic expansion. The same happened in 2021, which again led to a parabolic expansion.  Related Reading: Major Catalysts To Watch Out For That Could Send Bitcoin Price To $90,000 Kabuki stated that the same structure is playing out again for Bitcoin this time around and that this range i...