Bitcoin price struggled to clear the $19,500 resistance. BTC is currently (03:10 UTC) trading below $19,000. The fed rate hike to 3.25% increased selling pressure and now there is a risk of a move below the $18,000 level.Similarly, most major altcoins are moving lower.
ETH gained bearish momentum and even spiked below the $1,250 level. XRP is now consolidating gains above the $0.40 level. ADA is moving lower towards the $0.432 level.After struggling to clear the $19,500 resistance, bitcoin price reacted to the downside.
BTC declined sharply below the $19,250 level and the 50-hour simple moving average. The price even spiked below the $18,380 support zone and tested the $18,150 zone.
It is now correcting higher, with an immediate resistance at $18,780. The next major resistance is near $19,000 and the 50-hour simple moving average, above which the price might rise to $19,500.On the downside, an initial support is near the $18,380 level.Read more on cryptonews.com