Bitcoin Trending Down

Bitcoin is trending downward as the markets digest a persistent risk off tone and increased Fed rate hike trajectory. We are edging toward our supporting level of $18.6K. This level should provide support but if not, $17.6K is the next level after that. If we pivot, we must break $19.5K before attempting $20K again. It will take significant momentum to break through to these upper levels which is unlikely at this time.