Just eyeballing it, looks like the BTC price spends most of the time in the lowest band of the rainbow. The rest of the time it is transitioning by either escaping from it and going to the moon, or coming back to earth.
Note
tradingview.com/chart/vw7E2gRV/Created with Fib Circles
Note
Turns out this was a fairly accurate curve. I must have altered it later.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.