Bitcoin, Ethereum Technical Analysis: BTC Moves Towards $22,000 to Start the Weekend – Market Updates Bitcoin News

Bitcoin moved towards $22,000 to start the weekend, as prices consolidated following Friday’s gains. Price uncertainty has heightened in crypto in the aftermath of recent rallies, which has pushed several tokens towards overbought territory. Ethereum also slipped on Saturday.) prices fell on Saturday, as price uncertainty in crypto markets continued to heighten following recent gains.

The world’s largest cryptocurrency fell by over $1,000 in the past 24 hours, hitting an intraday low of $22,418.08 in the process. Friday saw bitcoin trading at a peak of $23,671.93, which was still close to a five-week high, however today’s bearish pressure has shifted market sentiment.As a result, prices now look as though they could be heading for a support point of $21,800 in upcoming days.

Ultimately, market uncertainty began once the resistance level on the 14-day relative strength index of 62.40 was hit earlier this week, with bullish momentum running out of steam soon after. Although still not clear, it is likely that we could see the floor of $21,800 hit, however with some bulls still in the market, we may not see this support broken this weekend.

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