Bitcoin and select altcoins have dropped to critical support levels and the strength of the rebound lacks strength, increasing the risk of further downside.

Bitcoin and altcoins are holding their immediate support levels, but traders are searching for a trigger to push the market higher.

Bitcoin and select altcoins continue to face selling at higher levels, which is proof that investor sentiment remains negative as traders continue to sell on rallies.

Bitcoin’s technical setup leans toward an additional downside, leading some traders to exit altcoins, which are struggling at overhead resistance levels.

Bitcoin bulls are fighting to hold the $20,000 level and several altcoins have seized upon the range-bound trading by rallying up to 10%.

Bitcoin and altcoins followed stocks lower after hawkish statements from the Federal Reserve confirmed that the central bank remains serious about reducing inflation.

Crypto traders expect a range expansion once the Jackson Hole symposium is complete and the Fed’s perspectives on inflation, interest rate hikes and the health of the economy are made…