Bitcoin starts a new week in an altogether different mood as the weekly candle close brings a move higher.
Opinions differ as May comes to an end, and brings with it a macroeconomic showdown, which is already making itself felt — the United States debt ceiling deal. “The coming week will still bring uncertainty around the debt ceiling as the agreement makes its way through Congress,” trading firm Mosaic Asset“We’ll also get an updated report from the ISM on manufacturing sector activity, plus the May jobs report. Regardless of those headlines, I’m watching the action in the average stock and cyclical sectors most closely.”
Bitcoin still stuck in a narrow range, is at last showing signs of life after several spikes to two-month lows. With volatility back in play, traders nonetheless remain conflicted. Can short-timeframe strength lead to an overall trend breakout?
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