Crypto week at a glance: Bitcoin continues to wobble

For the first time since December 2020, Bitcoin (BTC) fell below $20,000 on June 18. It has lost 62 per cent of its value so far in 2022. The crypto market has decreased to around $900 billion,
down from a record $3 trillion in November 2021.

After a downside correction, the price of Bitcoin settled above $20,000 level again. However, BTC is still facing several obstacles on the upside, starting with $20,500. The first significant resistance is near $21,000.

On the downside, initial support is near the $20,000 level. The next major support is towards the $19,500 zone, below which the price could gain bearish momentum.

The price of Ethereum (ETH) followed a similar pattern. It is currently consolidating above the $1,050 level. The price of Ethereum is facing resistance near the $1,120 level. The next possible resistance is near $1,150. ETH is down nearly 2 per cent in a day and 13 per cent in a week.

Source: https://economictimes.indiatimes.com/markets/cryptocurrency/crypto-week-at-a-glance-bitcoin-continues-to-wobble/articleshow/92469406.cms