BTC and ETH Soar

BTC is currently preparing to test ranges of its previous ATH from early October as it swings sharply upward on the four hour chart. The MFI has continued its treck upwards, slowly getting closer to overbought territory while momentum from the MACD may be preparing to peak in this area on the shorter-term. This means we may see a slight correction here on the 4 hour chart. However, the daily chart is looking fairly bullish.

On the daily chart, BTC is looking strong. With momentum looking to swing upwards and the MFI finding support and starting to trend upwards, BTC is showing its strength as it prepares to test its ATH from the previous month. This chart is showing that as long as fundemental developments continue to remain stable (in the crypto space and beyond), it’s very likely that BTC will push through to find new all time highs in the coming days.

Ethereum has found new all-time highs overnight, however, it should be noted that the MFI, bullish momentum and volume are starting to decrease into this uptrend. This could signal that it may be time for some slight short-term dips soon, however, if positive market sentiment continues to grow along with institutional support, we could see it continue its treck upwards with an influx of buy-volume.