BTC Prepares to Test Support Overnight

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BTC is preparing to test areas of support formed on Saturday as Ethereum follows. The MFI is trending downwards on the 4 hour and the MACD is trending downwards as well. We may see continued dips overnight until BTC finds support. It will also be important to keep in mind volume as it downtrends slightly. If volume increases into the downtrend, we could expect potentially further dips in the short-term, and/or volatility.

Ethereum is trending downwards fairly strongly currently. The MFI and the MACD are both trending downwards on ETH’s 4-hour candle chart. ETH will likely continue to follow BTC. On its own, if it doesn’t find support soon, it will likely continue to test slightly lower.