Bitcoin Holds
Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.
BTC daily candle chart, 3/18/22.
Bitcoin is consolidating once again on the daily chart.
After testing around $42.5k last week, BTC still has yet to break this range after it tested it once more yesterday.
The MFI is trending upwards strongly and the MACD looks as if it could be preparing to swing upwards as well. Volume is holding fairly steadily coming into the weekend, so it would not be surprising if BTC makes an attempt at testing short-term resistance once more if volume persists.
The overall cryptocurrency market cap is currently at $1.88 trillion with a volume of $96 billion. BTC dominance is currently at 42.1% with ETH dominance up to 18.9%. ETH is now clearly outpacing BTC as it takes larger portions of the overall market cap.
ETH daily candle chart, 3/18/22.
Ethereum has finally broken out of its coiling pattern as it attempts to test the above resistance. Currently, ETH is making an attempt at testing $3k once more, which could be significant if it’s able to break it.
The MFI is trending upwards strongly and the MACD is as well. It would not be surprising if ETH attempts to break through $3k and searches for higher support.
