BTC Holds Above $35.5k

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

BTC is attempting to maintain higher lows above $35.5k.

Volume is dipping from where the dip began yesterday morning, which is a good sign as it looks to maintain higher support. The MFI has trended upwards much of this week and is now moving fairly neutrally. the MACD is also moving neutrally, however it is looking like it could trend upwards once again if higher support is held.

The overall cryptocurrency market cap is currently at $1.66 trillion. The overall cryptocurrency market’s volume has dipped to $96 billion. Currently, BTC dominance is at 41.4% and ETH dominance is at 17.7%. Much of the market is in the red today with BTC down almost 4% in the last 24 hours at the time of posting.

Ethereum is showing similar patterns to BTC, and is maintaining itself above a line of former resistance turned support. It’s MFI is bordring overbought territory and its mACD is looking like it could swing further upward if a higher support is held. It should be noted that ETH has taken strong dips in it’s ratio to BTC over the past week and a half or so, which has influenced its decrease in dominance compared to BTC’s increase in dominance.

It’s likely that ETH will continue to follow BTC.