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.