Bitcoin price climbed higher towards $18,400 before there was a bearish reaction. BTC is now trading near a major support at $17,550 and might bounce back. Bitcoin broke the $18,000 resistance zone before there was a downside correction. The price is trading above $17,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $17,580 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase unless it trades below the 100 hourly SMA. Bitcoin Price Remains Supported Bitcoin price extended its increase above the $17,800 resistance zone. BTC even climbed above the $18,000 resistance zone and settled well above the 100 hourly simple moving average. The price traded as high as $18,387 before there was a bearish reaction. The Fed increased interest rates by 0.5%, sparking sharp moves in the market. BTC price reacted the downside and traded below the $18,000 support zone. There was a clear move below the 23.6% Fib retracement level of the upward move from the $16,880 low to $18,387 high. However, bitcoin price is trading above $17,500 and the 100 ..
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