Biden quits and endorses Harris-Bitcoin still endorsing Trump

The noted rebound back above 65k in BTC on Friday did later extend to above a potential resistance level, in place just above 66k. As also mentioned, that was where Bitcoin had stalled earlier in the week. Well, it got past it later on Friday, after the European close and the move extended to as high as 67,435 ahead of the wider US markets close. The price action on Saturday and Sunday was mostly sideways within a range covered by that high and a low at 66,300. That low was above the prior break out level from the high seen on July 17, at 66,115. If we take the most recent high, at 71,929 (May 21) and the most recent low, at 53,602 (July 5), we can plot a 76.4% correction on the topside of that downside run, at 67,604. Well, Bitcoin has taken that correction level out earlier today, when rising back above 68k after initially dipping below 66k on the news; that Joe Biden has dropped out of the US presidential race and endorsed his Vice-President, Kamala Harris. The high seen since that initial fall has been set at 68,489. So, once again it seems BTC is backing Trump and the potential for an administration led by him to unleash yet more value. BTC is currently trading at 67,785