BTC Tests Support Once More

Neither this post, nor any on cryptofal.com, should be considered financial advice. It is not.

BTC tested support once again today. On the hourly chart, the MACD is trending downwards, or getting ready to test neutral territory. The MFI is currently trending downwards towards oversold territory. It could be possible that we may see continued movement lower if strong supports aren’t maintained. Volume is remaining fairly steady, as it prepares to start an uptrend.

Ethereum’s MFI is currently trending downwards strongly, however the MACD is currently making an attempt at trending upwards towards neutral territory. It’s likely that BTC’s movement in the short-term will largely dictate how ETH moves over the next couple of days.

The overall cryptocurrency market is just below $2.5 trillion while the overall volume is around $110 billion.