Bitcoin (BTC) ran out of steam near $23,000 on June 16 after the biggest United States key rate hike in nearly thirty years.
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewDollar strength wobbles after rate hike news
Momentum did not last long, however, and at the time of writing, the pair had shed $2,000 to return to $21,000 at the new Wall Street open.
$BTC Did indeed fail to hold the mid range and fell back to the range low which it has held so far.
This range low is my line in the sand if BTC doesn’t want to revisit the