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Don't believe this! ?? PLEASE...The Rainbow Chart is a long-term valuation tool that uses a logarithmic growth curve to forecast the potential future price direction of BTC. The Bitcoin rainbow chart is a Bitcoin price movement chart that can help traders and investors to see whether the market is overbuying or. The Rainbow Chart is a long-term valuation tool for Bitcoin. It uses a logarithmic growth curve to forecast the potential future price direction of Bitcoin.