BITCOIN LONG TERM OUTLOOK
Long term trends in Bitcoin continue to remain bullish. Price action is maintaining its constructive formations and continues to move up. Long term holders of bitcoin can maintain their current allocations. New positions can be built and legged into as the price targets are above current levels right now.
BITCOIN MEDIUM TERM UPDATE
Medium term trends in Bitcoin 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.
BITCOIN SHORT TERM VIEW
Short term momentum right now is positive. Internal intraday metrics to weekly measures are showing that bitcoin is picking up and maintaining its current velocity to the upside. Short term weekly swing trades to high quality intraday pattern alignment with the current momentum has an increased probability of success.
Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network