U.S. Senate to Review Digital Asset Market Clarity Act on January 15
- Legislative Review: The U.S. Senate Banking Committee is set to convene on January 15 to discuss the Digital Asset Market Clarity Act, aiming to clarify the regulatory roles of the SEC and CFTC, thereby providing a clearer regulatory framework for digital asset markets.
- Market Impact: The act could establish definitive standards for the oversight of digital commodities versus investment contracts, although no official data indicates a reduction in market manipulation, its goal is to enhance operational standards for market participants.
- Innovation Promotion: Senators Cynthia Lummis and French Hill emphasize that legislative clarity is crucial for fostering innovation, with market experts awaiting the Committee's review to guide future business plans.
- Bitcoin Market Dynamics: Bitcoin is currently priced at $90,662.31 with a market cap of $1.81 trillion; despite a 0.30% increase over the past 24 hours, it has seen a 20.97% decline over the last 90 days, indicating market volatility.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36099.581 | 48049.791 | 60369.601 | 72319.811 | 84639.621 | 96589.831 | 108909.641 |
| Fibonacci | 48049.791 | 57320.938 | 63048.663 | 72319.811 | 81590.958 | 87318.683 | 96589.831 |
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