BTC Tries to Hold Above $50k

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BTC is attempting to test former resistance turned support. BTC is currently attempting to hold after breaking resistance. MFI is trending upwards and the MACD is just preparing to swing downwards slightly. BTC has tried holding above $50k most fo the day which, if held, could indicate a strong support. Volume remains fairly steady. The overall marketcap is holding around $2.35 trillion.

MATIC tested a longer term area of resistance today, so it wasn’t too surprising to see that it tested it, but was not able to sustain. That, coupled with the fact that the MFI is bordering overbought territory makes it not too surprising if we see a slight correction on the daily chart. The MACD is currently remaining fairly neutral in positive territory.