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Sluice with resistance -- good in bits? (5,4)

Ross

I believe the answer is:

water gate

I'm a little stuck... Click here to teach me more about this clue!

'sluice' is the definition.
(thesaurus)

'with resistance good in bits?' is the wordplay.
I cannot quite see how this works, but
'with' could be 'w' (abbreviation) and 'w' is located in the answer.
'resistance' could be 'r' (electronics abbreviation) and 'r' is located in the answer.
'good' could be 'g' (abbreviation) and 'g' is present in the answer.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for water gate that I've seen before include "Scandal that led to the resignation of Richard Nixon" , "US political scandal" , "Liquid opening provided Nixon's downfall" , "Name of scandal that toppled President Nixon (9)" , "The scandal that brought Nixon down" .)

I've seen this clue in The Telegraph.
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