Bitcoin Slammed as Investors Prepare for the Fed Rate Hike
Bitcoin got slammed as investors brace for another rate hike this week. All risk-on assets are selling off with Dow futures falling 200 points, and the S&P 500 testing relative lows. Bitcoin gave up the 20K's, finding support at 19.5K for a bit. Last night support gave and we tumbled further to support at 18.6K. We are currently seeing support here confirmed by a green triangle on the KRI, but it's also looking quite weak. Additionally, there is a lack of a pivot, suggesing that investors are still not enticed to buy back at these levels. If the selloff continues, then 17.6K is the next target. If we are able to pivot we will likely see strong resistance at 19.5K or 20K.
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