Crypto analyst Daan Crypto has highlighted a Bitcoin Rainbow Chart, which has provided insights into the crypto’s current price action. The analyst also suggested that Bitcoin needs to hold above $60,000 to make a bullish reversal. Bitcoin Needs To Break Above $60,000 In an X (formerly Twitter) post, Daan Crypto suggested that Bitcoin needs to break above $60,000 to enjoy a bullish reversal and possibly reach new highs in this market cycle. The crypto analyst noted that Bitcoin was still trading in the dark green region on the accompanying Rainbow chart as it struggles to hold on to the $60,000 range. Related Reading: Dogecoin Price Prediction: Extended Consolidation Or A Break Below/Above? Meanwhile, as Bitcoin struggles to break above $60,000, Daan Crypto raised the possibility of the leading crypto dropping below $51,000, the blue area on the Rainbow chart. The crypto analyst suggested it would present an excellent buying opportunity, stating that the blue area has historically been a good accumulation area in higher timeframes. Bitcoin’s price action has remained tepid since hitting a new all-time high (ATH) of $73,00 ..
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