Bitcoin saw a nice pivot from support at $20.7K after the FOMC statement. The 75bps rate hike lifted uncertainty about the Fed's outlook and stocks and other risk on assets were clear for a rally. We broke above $22.4K, but are meeting resistance in the vacuum zone between this level and $23.9K. We don't expect anything staggering from Bitcoin in the near future, so anticipate resistance at $23.9K. If we see a retracement, we could easily head back to support at $20.7K. There is strong support in the $20K's, but if this does not hold, $18.6K is a likely floor.
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