BTC Still Struggling With Resistance

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

BTC is still struggling with the same line of resistance it tested last night. The MFI is still trending upwards and the MACD remains fairly neutral overnight. Volume has dipped slightly, however it looks like its remaining relatively steady. The overall cryptocurrency market is holding just below $2.6 trillion around $2.575 trillion. BTC dominance is down to 41.4% while ETH dominance is back up to 19.7%. This could indicate that ETH and altcoins are taking a larger portion of the marketshare.

ETH is showing similar patterns to BTC, where it’s struggling to hold above the line of resistance it broke last night. The MFI is trending upwards since around the 22nd, and MACD is looking like it could go in either direction. It’s important to remember that BTC will dictate much of ETH’s movement in general, and especially within the short-term. That being said, ETH dominance and alt coin dominance is up, so money is starting to flow into plays outside of BTC in the short-term.