šØ The CLARITY Act was not passedāshould BTC now be exiting Shorts?
Last night, the U.S. Senate voted procedurally on the CLARITY Act, but it did not reach the required 60 votes to proceed. Reports said the result was 49 ayes ā 50 nays. After the news, BTC and ETH dropped sharply; at one point, BTC came close to 75K.
The first leg of the decline has already happened.
The next important thing is to see whether the support zones truly hold.
šø BTC
Key areas to watch:
š¢ 74.8Kā75Kļ½Important support
š“ 76Kā76.5Kļ½Important reclaim zone
š“ 77.5Kā78Kļ½Resistance above
ā ļø 80Kļ½Psychological level
If 75K breaks and BTC rebounds but canāt reclaim this zone, the short-term downtrend structure will be clearer.
Down below, you can continue to monitor:
73K ā 72K
But if BTC holds around 75K, then once the 1H and 4H timeframes begin forming a higher low and turn back above 76.5Kā77K, it would be unwise to assume that the next rebound is only a weak pullback.
So, from the current area:
I donāt want to take a Short just to chase a decline thatās already occurred.
šø ETH
ETH is focused on the $2,400 zone.
Above:
2,450ā2,500 ā 2,530ā2,560
If 2,380 is lost and it rebounds but canāt reclaim it, the short-term structure will be weaker.
On the other hand, if 2,400 holds and BTC also holds 75K, then you can continue to watch whether ETH can reclaim 2,450ā2,500.
Also, today there will be the Fed interest rate decision, so volatility may continue to increase.
Therefore, I lean toward this approach:
Breakdown ā wait for a confirmed retest
Hold support ā wait for a structure to form
Breakout ā only then consider continuation potential
Last night, the U.S. Senate voted procedurally on the CLARITY Act, but it did not reach the required 60 votes to proceed. Reports said the result was 49 ayes ā 50 nays. After the news, BTC and ETH dropped sharply; at one point, BTC came close to 75K.
The first leg of the decline has already happened.
The next important thing is to see whether the support zones truly hold.
šø BTC
Key areas to watch:
š¢ 74.8Kā75Kļ½Important support
š“ 76Kā76.5Kļ½Important reclaim zone
š“ 77.5Kā78Kļ½Resistance above
ā ļø 80Kļ½Psychological level
If 75K breaks and BTC rebounds but canāt reclaim this zone, the short-term downtrend structure will be clearer.
Down below, you can continue to monitor:
73K ā 72K
But if BTC holds around 75K, then once the 1H and 4H timeframes begin forming a higher low and turn back above 76.5Kā77K, it would be unwise to assume that the next rebound is only a weak pullback.
So, from the current area:
I donāt want to take a Short just to chase a decline thatās already occurred.
šø ETH
ETH is focused on the $2,400 zone.
Above:
2,450ā2,500 ā 2,530ā2,560
If 2,380 is lost and it rebounds but canāt reclaim it, the short-term structure will be weaker.
On the other hand, if 2,400 holds and BTC also holds 75K, then you can continue to watch whether ETH can reclaim 2,450ā2,500.
Also, today there will be the Fed interest rate decision, so volatility may continue to increase.
Therefore, I lean toward this approach:
Breakdown ā wait for a confirmed retest
Hold support ā wait for a structure to form
Breakout ā only then consider continuation potential