🥛 Will CLARITY kick off the bull run? 📈

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WILL CLARITY KICK THE BULL RUN INTO GEAR? 📈

The CLARITY bill has had one helluva ride so far, and it looks like the gods are finally shining their grace upon it.

But before diving into all the gossip from the Capitol, let’s talk BTC.

Last Monday, Milk Road’s in-house crypto-whiz, John Gillen, was hoping for a BTC close above $79K by Sunday, which he would have seen as a vote in favor of the crypto bull market's return.

Well… Sunday happened, and we didn't get it. Bitcoin fell from ~$80K to ~$76.5K over the weekend and is trading at ~$78.4K as of this writing.

So right out of the gates in this morning's meeting, we asked him: is the bull run on pause?

John told us that we’d gotten a little too black and white with our interpretation of his price targets - $79K was a ‘nice to have,’ in the near term, but just because we didn’t finish the week above it, doesn’t mean he’s all of a sudden bearish.

The level that he’s focused on (outside of a fixed price) is the 50-week moving average, and it's coming down to meet us.

As of this writing, the 50W SMA is ~$78.7K, about $300 above the current price.

The 50W SMA smooths the daily noise and is a line traders treat as one of the strongest indicators of price action, marking the break from a bear trend to a bull rally.