CRYPTO SHORT TERM PERFORMANCE
Long term trends in Ether continue to remain bearish. Price action is confirming that it just cannot hold, and continues to break down. Long term holders of ether should be out, or at least holding less than core allocations. While shorting can be considered aggressive, long term position players could consider finding quality pattern formations to trade on the short side with shorter trade durations.
ETHER MEDIUM TERM UPDATE
Medium term trends in Ether are bearish, however yellow light caution must be given. While medium term trends are maintaining a bearish bias, our confirmation indicators are showing this most recent price action may be waning in the direction of the predominant down move. If the longer term trend continues to remain in a state of selling, then aggressive traders can look for signs of overbought exuberance to leg into a trade, however do so by using the down trend of the January highs line, with a stop from the Jan lows.
ETHER SHORT TERM VIEW
Short term momentum right now is negative. Internal intraday metrics to weekly measures are showing that ether is weak and sellers continue to maintain the stronghold. Long term position holders to medium term trend traders should be out. However, short term weekly swing trades to high quality intraday pattern alignment with the current momentum has an increased probability to the downside. Play it tight with the shallow down trend line however.
Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network