Earlier I took and posted a short trade on Ethereum BITFINEX:ETHUSD. As the trade plays out and I watch other cryptocurrencies in the market there is an interesting divergence. Ethereum is selling off but it remains one of the stronger cryptocurrencies in this pullback by holding its gains. BITFINEX:BTCUSD has retraced the full 50% of yesterday's rally. Cryptocurrencies like Dogecoin BITFINEX:DOGEUSDLONGS are clearly weaker failing to hold the Retracement. Meanwhile some are stronger in the short term like Monero BITFINEX:XMRUSD which have gone on to break the rally high.
A good principle is buy strength and sell weakness. This puts you in line with the trend. I would advise checking how your favorite cryptocurrency is handling today's price action.