BTC Struggles at Resistance

Written By Guest User

BTC 4 hr candle chart, approximately 12:35pm ET, 10/30/21.

BTC is struggling around this area of resistance. Currently, the MFI and momentum of the MACD look to be trending downward. We may see BTC trend downward if this resistance can’t be held as support or some consolidation in the short term. BTC dominance is now down to 44.2%, while ETH dominance is around 19.4%. The overall market cap is holding above $2.6 trillion while the overall volume is around $120 billion over the last day. Ethereum gas fees remain high after testing new ATHs over the last couple of days.

ETH 4 hour candle chart, approximately 12:50pm ET, 10/30/21.

Ethereum is looking for support after finding a new all-time high of around $4,470. Both the MFI and momentum are looking to trend downward. Volume may need to settle more before Ethereum identifies new support.

Guest User
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