These Factors Will Weigh on Bitcoin This Week...

Strength in the US dollar and more hawkish Fed outlook has impacted the crypto market. Bitcoin has plummeted from relative highs around $25K back to support at $20.7K. We are currently seeing strong support at this level confirmed by green triangles on the KRI. But we are unable to muster the strength for a pivot at this time. If we do, then $23.9K is the next target. If support around $20K fails, then we will enter the value area between $18.6K and $20.7K again.