BTC Holds Support on Weekly Chart

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BTC weekly candle chart, 3/14/22.

Bitcoin is holding an area of support on the weekly candle chart.

The MFI is bordering oversold territory, slowly tending upwards as the MACD does the same. Volume has been fairly steady over the last few months. On the shorter time frames, we’ve seen some significant volatility, however, the longer-term picture shows that the area above $30k remains to be very strong support.

The overall cryptocurrency market cap is currently around $1.73 trillion with a volume of approximately $73 billion. Bitcoin dominance is at 42.8% with ETH dominance at 17.7%.

ETH to BTC weekly ratio chart, 3/14/22.

ETH is still lagging behind previous short-term highs in its ratio to BTC. The MFI has swung downwards strongly and looks as if it still has not peaked yet. The MACD has also swung downward, but it is looking like it’s peaking in these low areas.

It’s currently testing a strong area of support that it has maintained since the fall.