Bitcoin Tumbles Ahead of Clarity Act Vote, Sub-$75,700 Seen as Buying Opportunity

Bitcoin has started to slide ahead of the Clarity Act vote, which could have significant implications for its price. According to Michaël van de Poppe, the current levels are a steal for long-term holders, as sub-$75,700 is considered a good buying opportunity.

The price action on the 4-hour chart shows that BTC has tested lower Bollinger support near $75,991.23, while the EMA50 at $77,765.93 acts as firm resistance. The EMA200 at $74,461.43 offers deeper structural support, and the MACD death cross at -199.62 combined with RSI at 33.84 signals momentum exhaustion that favors a quick retest of the lower band before any rebound attempt.

This means that Bitcoin's price may continue to drop before potentially rebounding in the near future. The Clarity Act vote could be a significant catalyst for this movement, and its outcome will likely have a major impact on the cryptocurrency market.