BTC and ETH Power Through Resistance

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

BTC 4-hour candle chart, approximately 8:30am ET, 11/30/21.

BTC has broken an area of resistance overnight, pushing over $58,000. Both the MACD and the MFI look to be trending upwards. The overall cryptocurrency market is making an attempt at rising to $2.7 trillion, and the overall volume is up to $121 billion. ETH dominance is up while BTC dominance is down. This means that money may be flowing into ETH and altcoins from BTC. BTC dominance is down to 41.3% while Ethereum dominance is up to 20.7%.

ETH 4 hour candle chart, approximately 9 am ET, 11/30/21.

ETH is currently testing resistance at around $4,670 or so. It's testing a former area of support. The MFI is nearing overbought territory on the four-hour chart as the MACD continues to trend upwards. We could see ETH continue to move upwards, however, it wouldn’t be surprising if we saw a dip soon.