BTC Holds Higher Support

Written By Guest User

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

BTC is continuing to consolidate strongly after testing above a line of resistance. Currently, on the 4-hour candle chart the MACD and the MFI are trending downwards, looking for support. BTC’s price has found support above $48,750 or so since test above the last line of resistance.

The overall cryptocurrency market cap is around $2.33 trillion, with volume below $100 billion. Bitcoin market dominance has decreased to 39.9% and ETH dominance is holding around 21.6%.

Ethereum is also testing an area of support. Its indicators are following similar patterns to BTC. It should also be noted that volume is dipping slightly for ETH as well. If support holds, we may see ETH test upper resistances once more. If support breaks, that current support may be turned into a line of resistance if it’s not gained back.

Guest User
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