Bitcoin is approaching a crucial technical stage, with analysts outlining sharply different paths for the cryptocurrency. One chart ties a possible move toward $75,000 or $50,000 to the Clarity Act, while another projects a late-August low before a potential recovery.
$BTC Could Target $75,000 if Clarity Act Passes
Bitcoin traded near $64,600 as analyst Ted Pillows outlined two sharply different price scenarios linked to the Clarity Act. His chart suggests approval could support a rally toward $75,000 or higher, while rejection could increase the risk of a decline toward $50,000.
Bitcoin Clarity Act Outlook. Source: Ted (@TedPillows) on X
Bitcoin is holding above a major support zone between roughly $59,800 and $61,400. The chart shows buyers defending this area several times, making it the key level for the next major move.
In the bullish scenario, Bitcoin remains above $60,000 and begins recovering through resistance near $66,000 and $70,000. A sustained break above $70,000 could strengthen momentum and open the way toward the $74,000 to $76,000 range.
Ted links that possible move to approval of the Clarity Act, which he believes could improve sentiment across the crypto market. However, Bitcoin would still need to clear several resistance levels before the $75,000 target becomes more likely.
The bearish scenario begins with a confirmed break below the highlighted support area. Losing $60,000 could weaken Bitcoin’s market structure and expose lower levels around $58,000, $55,000 and $52,000.
The chart ultimately points toward $50,000 if the Clarity Act is rejected and selling pressure accelerates. A failed attempt to reclaim $60,000 after a breakdown would add further weight to that bearish outlook.
For now, Bitcoin remains between two important levels. Holding above $60,000 keeps the recovery scenario intact, while a move above $70,000 would support a stronger push toward $75,000. A decisive breakdown below support would shift attention toward the $50,000 region.
Analyst Projects New August Low Before Bitcoin Recovery
A separate weekly chart from Jesse Olson suggests Bitcoin could fall further before establishing a stronger recovery. The setup projects a fresh price low by the end of August while momentum continues to form a bullish divergence.
Bitcoin Weekly Outlook. Source: Jesse Olson (@JesseOlson) on X
Bitcoin is trading near $63,200 on the chart and remains below a long-term descending resistance line. That trendline has capped price advances since the market peaked above $120,000, keeping the broader weekly structure under pressure.
Olson’s projected path suggests Bitcoin may briefly hold or rebound near the current area before turning lower. The chart points toward a possible decline into the upper-$40,000 to low-$50,000 region by the end of August.
A drop into that range would create a new price low. However, the indicator below the main chart is moving in the opposite direction, with its lows gradually rising. This difference between falling prices and improving momentum is known as bullish divergence.
Bullish divergence can signal that selling pressure is weakening, even when price continues to decline. It does not confirm an immediate reversal, but it can support a recovery if Bitcoin later breaks above resistance and follows through with stronger buying.
The chart also places Bitcoin inside a downward-sloping channel. A move below the channel’s lower boundary could produce the projected August low, while a rebound from that area may bring $BTC back toward the descending white trendline.
That trendline is the main resistance level in Olson’s outlook. Bitcoin would need to break and hold above it before the broader structure could turn more constructive. Based on the chart, that resistance may sit near the upper-$50,000 to mid-$60,000 range later in the year, depending on when a breakout attempt occurs.
The bullish divergence would lose importance if momentum begins falling alongside price. A sustained breakdown without improvement in the lower indicator would suggest sellers remain in control and could extend the decline.
For now, Olson’s analysis does not call for a straight recovery. Instead, it presents a scenario in which Bitcoin records another low first, while improving momentum creates the conditions for a potential rebound later in the year.
