I'm pretty sure that rapid cycling isn't a type of bipolar in itself, if not a term that describes your episodes ( being, four or more a year) you can be bipolar one or two, with or without rapid cycling episodes. Bipolar II, like already mentioned, just means you don't get full blown manic episodes ( so you probably wont be splurging 5,000 dollars on a purse you think is ugly, then flying out to a 5-star hotel in Paris, then spend another 20 grand you don't have at the mall, and then go sleep around with random people all at once, but you do get either really happy and elated, or really mad and irritated, and lots of energy and you act really silly. )

hope this helps!