CLARITY ACT Delay Clouds BTC Price Outlook Amid Regulatory Gridlock
Bitcoin's price has hit a snag after the proposed CLARITY ACT stalled in its tracks. This regulatory gridlock has left traders weighing their options, unsure whether BTC will push higher or slide lower from current levels near $64,621.3.
The price of Bitcoin currently sits within Bollinger Bands, with an upper resistance level at $65,052.4 and a lower support level at $63,882.56. From a technical standpoint, the 4-hour structure remains bullish as it stays above both the EMA50 at $64,149.35 and the EMA200 at $63,656.69.
The RSI (Relative Strength Index) reading of 55.55 is neutral, indicating that the price may be due for a pullback. However, the MACD (Moving Average Convergence Divergence) registers a bullish golden cross at 246.31, suggesting that any decline could attract fresh bids before continuation.