masonthan812

@masonthan812

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Like the House Finance Committee, the Senate Banking Committee is another crucial Congressional group for crypto and blockchain policy.

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He added that he looked forward to working “in tandem with President Trump and Senate Banking Committee Chairman Tim Scott to bring common-sense economic policies that will produce a new era of American prosperity.”

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“I am humbled that my colleagues have placed their trust in me to lead the House Financial Services Committee as their next Chairman,” Hill said in a Dec. 12 statement.

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Crypto-friendly Arkansas Representative French Hill, currently chairing a digital asset subcommittee, will take over leadership of the House Financial Services Committee in next year’s United States Congress.

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“If they’re the plaintiff, they could just drop the lawsuit entirely. But if they’re in the middle of a process, then the commissioner doesn’t have unfettered discretion to completely change everything in that process.”

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Conversely, if the price continues lower and breaks below the 20-day EMA, it will suggest that the bulls are booking profits. The BTC/USDT pair may drop to $90,000 and eventually to the 50-day SMA ($84,719).

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A strong rebound off the 20-day EMA will suggest that the bulls remain in command and every minor dip is being purchased. That will increase the possibility of a retest of the all-time high at $104,088. A break and close above $104,088 could start the next leg of the uptrend to $113,331 and later to $125,000.

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Bitcoin’s repeated failure to maintain above the psychologically critical level of $100,000 may result in a pullback to the 20-day EMA ($95,673).

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If bulls want to assert their supremacy, they will have to push the price above 106.73. If they do that, the index could retest the overhead resistance at 108. The bulls may find it challenging to overcome the barrier at 108, but if they can pull it off, the rally could reach 114.

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If the price plummets below 105.42, the index may fall to the 50-day simple moving average (104.69). The bulls will try to defend the 50-day SMA because a break and close below it will bring the large 101 to 108 range into play.

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The US dollar Index (DXY) is witnessing a tough battle between the bulls and the bears near the 20-day EMA (105.96).

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Instead, if the price turns down from the current level, it will signal that the bears are selling near the resistance line. The index may drop to the 20-day exponential moving average (5,996) and then to the support line. A break and close below the support line will tilt the advantage in favor of the bears.

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However, if buyers drive the price above the resistance line of the wedge, it will invalidate the bearish setup. The failure of a bearish pattern is a bullish sign. That could propel the index to 6,221 and, after that, to 6,500.

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The S&P 500 Index (SPX) has formed a rising wedge pattern, which is usually considered a bearish setup.

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Could Bitcoin’s stalled rally attract buyers to altcoins? Let’s analyze the charts to find out.

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