🧠💥 Genius Act Passed—Finally, Some Brains in the System! 💼📜
Ladies and degens, the Genius Act has officially passed, proving that lawmakers can in fact use their brains (occasionally). This shiny new law is designed to make life easier for builders, devs, and crypto believers—less red tape, more innovation, and maybe even fewer sleepless nights waiting for SEC lawsuits. 😅
Imagine a world where blockchain projects don't have to hire 37 lawyers just to launch a token. Wild, right?
Some are calling it a win for “American innovation,” others are just excited their favorite memecoin might finally get the regulatory green light. Either way, it’s a bullish signal—and not just for brain cells. 🧠🚀
Bitcoin is currently under strong selling pressure on the 1-hour timeframe, dropping from a recent high of ~$109,164 to around $104,318 — down over 3%.
🧠 Key Technical Insights:
Moving Averages: Bearish crossover between MA(7) and MA(25). Price is also below the long-term MA(99), confirming a downtrend.
MACD: Deep in negative territory, with widening lines and increasing red histogram bars — strong bearish momentum.
RSI (6): Extremely oversold at 12.1 — a potential setup for a short-term bounce, but no confirmation yet.
Volume: Noticeable spike in volume as price drops. Sellers are in control.
Stochastic RSI: Also deeply oversold. A bounce could happen soon, but risky without clear reversal signs.
📊 Conclusion: Short-term bearish trend is clear. If you're a scalper, monitor closely for a possible relief bounce. For swing traders, better to wait for a confirmed reversal with a strong green candle + rising RSI + high buying volume.
🚨 Don’t catch the knife — let the price show signs of recovery before jumping in!