drew parallels between the 2020 post-halving and current trends. The Rainbow Chart showed that BTC was still in the buy zone – does the Bitcoin price prediction agree?The price action on the 1-day chart was bullish. Bitcoin dropped below the 61.8% Fibonacci retracement level at $59.4k in early May but was quick to recover.
The RSI on the daily chart was also above neutral 50 to signal bullish momentum. Together, the technical indicators pointed toward a bullish Bitcoin price prediction. Alternatively, the liquidity at $67.8k, which has already been swept, might be enough to propel Bitcoin back to the $71.2k resistance zone.
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