BitcoinShort
Relief Rally in Bitcoin Stalls at $20K
Bitcoin rallied off of a bid in risk-on assets, as investors become hopeful that the Fed will pivot from their hawkish stance. Risk-on assets have rallied, and the sentiment has bled into the crypto markets, with Bitcoin breaking through 19.5K. We are meeting resistance at 20K, which is anticipated. If we are able to break through then we will meet immediate resistance at 20.7K. We are meeting resistance at current levels confirmed by a red triangle on the KRI, and if we reject this level, then 19.5K or 18.6K are sure to provide support.
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