Bitcoin, Ethereum Technical Analysis: Dollar Weakness Pushes BTC Higher, as Biden Fails to Secure Debt Deal

Bitcoin rebounded connected Tuesday, arsenic a effect of weakness successful the U.S. dollar, pursuing failed talks to tackle the indebtedness ceiling crisis. President Biden stated, “We reiterated erstwhile again that default is disconnected the array and the lone mode to determination guardant is successful bully religion toward a bipartisan agreement.”

Bitcoin

Bitcoin (BTC) roseate supra $27,000 connected Tuesday, arsenic a effect of weakness successful the greenback, pursuing failed talks to summation the U.S. indebtedness ceiling.

After dropping to a debased of $26,714.18 to commencement the week, BTC/USD surged to a highest of $27,434.68 earlier today.

Tuesday’s gains saw bitcoin marginally interruption retired of a absorption level astatine the $27,300 mark.

This coincided with the comparative spot scale (RSI) climbing supra a ceiling of its own, astatine 44.00.

At the clip of writing, the scale is present tracking astatine 47.10, with an upcoming portion of 50.00 a apt people for bulls.

Should they scope this point, determination is simply a tenable accidental that bitcoin volition commercialized supra $27,600.

Ethereum

Ethereum (ETH) besides surged higher successful today’s session, arsenic prices continued to determination distant from a cardinal level of support.

ETH/USD deed an intraday precocious of $1,869.34 connected Monday, 24 hours removed from trading astatine a bottommost of $1,809.54.

The determination came arsenic the world’s 2nd largest cryptocurrency bounced distant from a caller level astatine $1,790.

Looking astatine the chart, today’s surge comes pursuing a flimsy breakout of a ceiling connected the RSI astatine the 50.00 mark.

As of writing, terms spot is present tracking astatine 51.97, with the adjacent disposable level of absorption astatine 55.00.

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Could momentum beryllium acceptable to yet emergence successful crypto markets? Leave your thoughts successful the comments below.