BTC Attempts to Push

Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.

BTC has taken a fairly definitive swing upwards after today, with several green candle closes on the four hour chart today.

Currently, BTC is struggling with resistance around $44k. The MFI and the MACD have both swung upwards fairly sharply. It shouldn’t be too surprising if this trend were to continue. However, it should be noted that the MFI is preparing to cross into overbought territory. This could mean that we may see some sideways movement, or a rejection soon.

The overall cryptocurrency market is currently at $2.083 trillion and trending upwards. This means that over the past few days, there has been almost $200 billion that has left and re-entered the market once more. The overall market’s volume is just below $100 billion at $93 billion. BTC dominance is currently at 39.9% while ETH dominance is currently at 19.3%.

Ethereum has seen a similar incline following BTC’s gains over the past couple of days. It’s MFI is well into overbought territory and its MACD is trending upwards fairly strongly. It’s likely that ETH’s momentum could continue to follow BTC’s while also leading the way for altcoins.