BTC Searching For a Recovery

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

BTC is currently attempting to find support in an area it found support in almost a week ago. Currently the MACD is attempting to trend upwards and so is the MFI. If BTC holds this support area, it will be the second time it has tested it which could result in some climbs in price action as a result.

The overall cryptocurrency market cap is around $2.55 trillion, and overall volume is down to $127 billion. Altcoin dominance is definitely up with both BTC dominance and ETH dominance currently down. This means we may see some interesting movement from altcoins today.

Ethereum is showing similar patterns to BTC with one noticeable difference. Ethereum is establishing higher lows. It’s MACD and MFI are both trending upwards currently.