Bitcoin a Bit More Docile Into The Weekend

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

Bitcoin’s volatility has seemed to settle a bit going into the weekend.

With its volume down significantly compared to earlier in the week, Bitcoin seems to be holding this range of support fairly strongly so far. It should be noted that on the weekends, traditional fiat markets are closed, so any effects from their movement are paused until markets open on Monday.

Bitcoin has slowly traveled up this trend line of support since testing lows earlier this week. It will remain to be seen if BTC is able to maintain this support. It should also be noted that Bitcoin could struggle to break this range if it doesn’t receive an influx of buy-side pressure.

The MFI has been on a strong uptrend over the past week, however, it is looking like it could prepare to trend downward soon. The MACD is swinging upwards on both its EMA lines as well as its momentum waves.

The overall cryptocurrency market is currently at $1.26 trillion, significantly lower than it was last week with an approximate volume of $87 billion. BTC dominance is at 44.5% with ETH dominance at 19.2%.