As reported by BTC PEERS, Bitcoin recorded an impressive 23.55% increase in the week leading up to July 20. The price of the flagship cryptocurrency surged to around $23,800, levels last seen over a month ago. However, Bitcoin failed to break through this level and has declined below $21,500. As of press time, Bitcoin was trading at $21,081, down by over 4% in a day and 3% in a week.
On the downside, there is support at the $20,850 level. Further down, the next major support is around $20,500, below which the price of Bitcoin could fall to the $20,000 region. And on the upside, there is an immediate resistance near $21,500, with the next major resistance at $22,000.
Along with Bitcoin, other major altcoins have also recorded losses over the past week. Ethereum is currently trading below the $1,450 support level after breaking the $1,500 support zone last week. The second-largest cryptocurrency by market cap is down by over 7% in a day and 6.69% in a week. Its next major support is around $1,365, below which the digital asset could fall to $1,320. On the upside, there is a significant breakout resistance forming near $1,500.
Meanwhile, the “Crypto Fear and Greed Index” is currently sitting at 26, down from 30 yesterday.
Continue reading on BTC Peers