BTC: CLARITY Act Stalls — FOMC Is the Next CatalystBitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.PGDJ_JinnIn my Idea last week, I warned about the downside risk for BTC during the New Moon cycle, when Bitcoin was trading around $79K. That risk quickly materialized after the CLARITY Act failed to advance in the U.S. Senate, with the procedural vote falling short of the 60 votes required. BTC then entered a sharp decline. So, what’s next? The FOMC is now the next major catalyst. 🔘 Back to the chart: BTC has broken below the $75.5K Trading Range low and is currently hovering around the previous weekly low near $76K. For now, the structure remains unclear. 📈 Key Levels I'm Watching $81K–82.8K — Daily Bearish OB $79.5K — Fib Golden Pocket + H4 Bearish OB + VAH $77K — Trading Range POC (A daily reclaim above this level would make me bullish again.) $76K — Previous Week Low $72K–71K — Buy Zone All of these key levels and liquidity areas are marked on the chart. 🔴 Short Setups Since BTC has not confirmed a daily breakdown from the Trading Range, I remain cautious about chasing shorts. 1. Liquidity Sweep + SFP If price sweeps one of the key levels mentioned above and forms an SFP, I’ll consider a short entry. 2. Confirmed Daily Breakdown If BTC breaks below the $75K area on the daily timeframe with expanding volume, I’ll consider short exposure. Without that confirmation, I’m not interested in chasing the downside. 🟢 Long Setups I’ll look for longs after BTC reclaims the $76K Previous Week Low. If price can reclaim and hold above $77K, we could see another test of the $80K area. For me, $77 is the key short-term pivot. 🔘 FOMC Trading Plan I’m also currently participating in the KCGI Trading Competition. FOMC can produce violent two-way price action, so I’ll avoid chasing the first news candle. Instead, I’ll wait for price to react around these key levels and look for confirmation from the subsequent price action. Let’s see whether this FOMC gives us another clean opportunity. Structure first. Reaction second. Execution last.