CRYPTO SHORT TERM PERFORMANCE
LTC showing strongest relative performance and first short term breakout. Nice pair of long LTC and short ETH.
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.
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. Looking to trade a break of the Jan lows on downside with a tight stop from the downtrend line is a nice reward to risk with a profit target in 90’s.