BTC Coils

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

Currently, BTC is coiling with a slight increase in volume on the 4-hour candle chart.

The MFI is slowly making an attempt at trending upwards, and so is the MACD. If volume continues, and we see an influx of buy-side pressure, we could see another test of resistance, and even a potential breakout in BTC’s price action.

The overall cryptocurrency market cap is currently at $2.1 trillion while the volume is back above $100 billion.

After breaking through a line of support that’s been consistently in play for over a month, ETH is finding itself consolidating. Its MFI is slightly more flat than BTC’s while the MACD is also trending upwards slowly.