CRYPTO SHORT TERM PERFORMANCE
Traders should be out of ETH and LTC. These type of gap moves are short term trend killers. Bitcoin still be held as a longer term play but be sure to watch support.
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 buying, then aggressive traders can look for signs of oversold fear to leg into a trade.
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.
Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network