BTC price falling off the rainbow chart

If I remember correctly, this rainbow chart was updated after BTC's price broke through the lowest blue band during the chaos following the FTX collapse and the bear market we saw at the end of 2022 and early 2023. The creator of the site added an additional layer at the bottom of the rainbow. He also swapped out many other charts featured on his site, and it became clear that BTC’s price movement was totally misaligned with the price targets shown in those charts. Now, it looks like the price has dipped below that lowest layer again. I’m not a technical analyst by any means, and I know there are a lot of different models out there for price projections. Still, the possibility that the site’s author might need to add yet another layer at the bottom of the rainbow, especially since we haven’t even reached the green zones since late 2021, doesn’t seem like a good sign to me. What do you all think? I’m open to counterarguments, and I’d love to learn more from those who are more knowledgeable than I am. Honestly, I want to believe in BTC’s potential again, and yes, I also see it as an investment opportunity. This isn’t about trashing BTC. I just want to highlight the issue of rapidly decreasing returns alongside ongoing volatility. This mix seems to be fueling a growing lack of confidence, particularly among long-term holders. I’m genuinely worried that investing in BTC, instead of promising big returns, is becoming more of a gamble.