BTC Searches for Support

Neither this post, nor any on cryptofal.com, should be taken as financial advice.

BTC is attempting to find support on the 4 hour candle chart. The momentum on the MACD looks to be swinging downwards, however the MFI is making an attempt to swing upwards. This gives a fairly neutral perspective from the indicators. And BTC is testing support ranges that it hasn’t seen since last month.

Ethereum is struggling in its ratio to BTC after today’s dip. It’s struggling at a longer area of resistance from back in April. It’s tested it, however it couldn’t break through it yet. This could mean that if support in the ratio is not found, BTC may find itself outpacing Ethereum in the short-term. However, if a definitive breakout occurs over the line of resistance we could see the opposite,