CRYPTO SHORT TERM PERFORMANCE
We filled the gap so, 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. Useing the recent gap down high is key for a stop.
ETHER MEDIUM TERM UPDATE
Medium term trends in Ether continue to remain bullish. Price action is primed for swing traders in these zones. Our confirmation indicators are confirming the current trend which can help give traders the green light with more assurance. Use candlesticks to confirm a short term swing bottom then confirmation for entry.
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. Use that gap down as your stop.
Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network