BTC Holds Higher Support After Testing Resistance

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

BTC 4-hour candle chart, 2/26/22.

Bitcoin is consolidating on the 4-hour candle chart coming into the beginning of the weekend.

It tested resistance briefly just above $40k, however it was not able to maintain and dipped back down below. The MFI is bordering overbought territory on the 4-hour candle chart and the MACD is slowly swinging downward. It wouldn’t be too surprising if BTC tests downward slightly if it’s not able to maintain this area.

The overall cryptocurrency market cap is currently at $1.785 trillion with a volume of $78 billion. BTC dominance is currently at 41.7% and ETH dominance is at 18.7%. Volume has decreased significantly coming into the weekend.

ETH 4-hour candle chart 2/26/22.

ETH is showing similar signs to BTC on the technical side of things. Volatility has settled a bit with volume settling on ETH as well.

The MFI is bordering overbought territory and the MACD is swinging downwards currently.