BTC Weekly Close Continues Downtrend?

Written By Guest User

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

BTC is currently trending downwards on the weekly chart as it searches for definitive support in the short-term. The MFI and MACD are both trending downwards after yesterday’s weekly close. The overall cryptocurrency market is nearing $2.2 trillion while its volume has increased slightly to about $130 billion. Dominance for BTC is at 41.1% while ETH dominance is at 21.6%. BTC Fear and Greed Index is currently in extreme fear territory.

Ethereum isn’t falling as steeply as BTC on the weekly chart. This is because ETH has been absorbing decent portions of market cap dominance lately. Its MACD and MFI are trending downwards so we shouldn’t be too surprised if slight dips continue if BTC struggles to maintain support.

Guest User
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