- The cryptocurrency and equities markets rebounded on Friday after reports emerged indicating that President Joe Biden and Speaker of the House Kevin McCarthy are “closing in on a deal” to extend the government's debt ceiling for two years.
Data provided by TradingView shows that Bitcoin briefly dipped to a low of $26,360 in the early trading hours on Friday, only to reverse course to hit a daily high just shy of $27,000 in the afternoon before settling back at the $26,800 support level.“June Bitcoin futures prices were holding steady in early U.S. trading on Friday after hitting a nine-week low Thursday,” said Kitco senior technical analyst Jim Wyckoff.
That's step one for #Bitcoin, as we reclaim $26,600 and are looking for continuation towards the range highs. — Michaël van de Poppe May 26, 2023 In order for that to occur, market analyst Rekt Captial highlighted that BTC first needs to reclaim the resistance level at $27,600 as support, but warned that it has “a few technical steps to go through first” before it can challenge that level.Price has a few technical steps to go through first before even challenging for the ~$27600 level $BTC #Crypto #Bitcoin pic.twitter.