BTC Tests Support and Bounces

BTC took a dip overnight and tested support, however, it quickly recovered after bottoming out around $59,400. Both the MFI and the MACD are trending upwards as well on the 4 hour candle chart. On the daily, BTC is continuing to hold above this former area of resistance that’s become support.

The overall cryptocurrency market cap is over $2.65 trillion and overall volume is back up to around $137 billion. BTC dominance is holding fairly steady around 44% and ETH dominance is holding steadily as well at about 19.4% at the time of posting.

Ethereum may be preparing to test all-time highs once more as MFI and MACD look to swing upwards as well. Ethereum will likely see lots of attention as November brings its first update to the ETH 2.0 blockchain.