A quick summary of today’s price action and news

1. Mt. Gox news led to a massive sell-off. Explains the weakness of the past few weeks. Insiders knew in advance

2. Altcoins have clearly outperformed BTC on the downside, but need BTC and ETH to keep rallying to really see a sustained upside. Altcoins have clearly been hit harder in the past few weeks/months. Relative outperformance could suggest oversold territory, especially relative to BTC

3. Small CME gap at around $64,000. Don’t overvalue this until price approaches that gap

4. Daily and weekly charts could get pretty good, but bulls need to work on it.

5. Some unknowns in the future:

-How will the ETH ETF perform once it goes live?

-How quickly will the Mt. Gox allocation happen and how much money will enter the market.

-Is a lot of the selling already factored into the past few weeks

-Will the German government sell more this week? He didn’t sell last Friday