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- The price of BTC has pulled back slightly below the daily high of $27,303.
- The trading volume of BTC also decreased by 17.71% in the last 24 hours, reaching a total of $12,181,870,753.
- Joe Biden said he will sign the debt ceiling bill today, June 3rd.
Although Bitcoin managed to stay above $27,000, its rise was limited. What levels should be expected in the coming days?
Bitcoin (BTC) Current Price Analysis
The price of Bitcoin is trading at $27,170, down 0.26%.
The price of BTC has pulled back slightly below the daily high of $27,303. However, it was trading at a level closer to the daily low of $26,898. The trading volume of BTC also decreased by 17.71% in the last 24 hours, reaching a total of $12,181,870,753.
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BTC/USD Daily Price Chart
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From a technical perspective, BTC’s recent price increase may face the risk of falling below the medium-term bullish trend line of the cryptocurrency. At the time of writing, the price of BTC was trading at a level just above the positive trend line it had formed in the past few months. Additionally, it was trading below the 9-day and 20-day EMA lines.
The 9-day EMA line triggered a short-term bearish flag by crossing below the longer EMA line in the past 48 hours. If these downward technical indicators are confirmed, the market leader’s price could drop to the next support level of $25,788 in the next few days.
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On the other hand, if the price of BTC manages to close a daily session above the 9-day and 20-day EMA lines in the next 48 hours, the downward thesis will become invalid. In this case, the cryptocurrency will turn the next important resistance level of $28,740 into support in the next 48 hours.
Debt Ceiling Crisis Will Be Resolved Today
The debt ceiling crisis in the United States, which has been on the agenda for a long time, was approved by the House of Representatives in recent days. It was also approved by the US Senate on June 2nd. Finally, Joe Biden is expected to sign the debt ceiling bill.
Joe Biden, the President of the United States, who made a statement at 02:00 on June 3rd according to Turkish time, said he will sign the debt ceiling bill today, June 3rd. He also touched on the crypto issue in his statement. US President Joe Biden said:
“We need to work to prevent crypto investors from evading taxes.”
Joe Biden, who targeted crypto investors, emphasized the need to work to prevent tax evasion. The prices of cryptocurrencies were not affected by this statement.
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