Bitcoin Attempts Second Green Daily Candle
Neither this post nor any others on cryptofal.com should be taken as financial advice.
BTC daily candle chart, 2/23/22
Bitcoin is looking to attempt the second day of green after struggling to break its range throughout much of February.
Over the last couple of days, BTC has tested a support range for a second time that started earlier this month. Since testing that support around $36.5K, BTC is looking to increase. It should be noted that fundamental developments in geopolitical affairs could have a significant effect on global markets, including the cryptocurrency markets, so it’s not surprising if we continue to see volatility.
On the technical side of things, the MFI is trending downwards, looking like it could attempt to swing upwards soon. The MACD’s momentum waves are attempting to swing upwards on the daily candle chart as its EMAs attempt to settle. There has been a slight decrease in volume over the last couple of days.
ETH daily candle chart, 2/23/22.
ETH’s daily candle chart is showing similar signs to BTC, mirroring its fundamental driven volatility. ETH’s MFI sunk much lower than BTC’s to the point where it’s currently bordering oversold territory. Its MACD on the daily chart is slowly making an attempt at swinging upwards as well. This is all after ETH tested support around $2,550.
Unfortunately, due to significant inaccuracies at the time of posting on coinmarketcap.com, we cannot provide the overall cryptocurrency market cap metrics we would usually.
