From TradingView · · 1m 10s
Bitcoin's $68k flush zone after CLARITY Act fails
Failed crypto legislation triggers a predicted drop to key support levels where institutional buyers may step in.
In brief
Failed crypto legislation triggers a predicted drop to key support levels where institutional buyers may step in. Wait for Bitcoin to reclaim the 63-week moving average with confirmation signals before buying the dip. Originally reported by TradingView.
CLARITY Act failure triggers flush
The failed Congressional vote on the CLARITY Act activated Scenario B, pushing Bitcoin toward a sharp drop into the $68,000 to $72,000 zone.
The Golden Zone target
Bitcoin is expected to flush into $68k-$72k, a key support area combining Fibonacci levels and CIMA support to shake out overleveraged traders.
SEC framework as recovery catalyst
With Congress stalled, SEC Chairman Paul Atkins' proposed executive framework could enable institutional buyers to absorb panic selling.
Two possible recovery paths
Bitcoin could either bounce violently from the Golden Zone or consolidate sideways there before pushing toward $100,000 and beyond.
Don't buy until confirmation
Wait for price to reclaim the 63-week moving average with a buy signal, full candle close above it, or successful retest before entering.
“Do not front-run the dip.”
The bear market tripwire
A daily close below $63,000 with CIMA support breaking and a sell signal would confirm the bull scenario has failed completely.
The bottom line
Wait for Bitcoin to reclaim the 63-week moving average with confirmation signals before buying the dip.
