BTC and ETH Struggle With Resistance

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

BTC’s daily chart is showing a little bit of struggling in its current area. Volume looks as if its starting to settle and momentum from the MACD may be preparing to move upwards as well. The MFI is bordering oversold territory. BTC is hitting resistance around $60k which isn’t too suprising. There is also a trend line that it’s attempting to turn into support, so if that support holds through today, we may see some further upward movement for Monday.

Ethereum is trending even more sharpely upwards than BTC. The MFI is fairly neutral currently and could go in either direction. The MACD however, looks like it may be attempting to swing upward similar to BTC’s. Volume is slowly settling down as well. If ETH maintains support throughout today, we’re likely to see continued upward momentum into tonight’s weekly close as well as tomorrow.