2100NEWS Crypto Market Breadth Survey
Analysis of Market Direction… Timing is Everything!
Market Breadth Indicators are powerful technical analysis tools that gauge the direction of the market and help traders determine if it’s bullish, bearish or neutral. They do so by analyzing the degree of participation in an advance or a decline to see whether or not an uptrend or downtrend is broad-based and therefore likely to continue. Breadth indicators offer a different perspective on the markets that can’t be seen through other indicators.
Last week started with the strong up move, it was only a big correction upwards, a big bear shake out. We show charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets and 2100NEWS Digital Assets 100 Large Cap Index (NWSL100) which represent 100 large-cap Digital Assets.
2100news Digital Assets Total Index (NWST1100)
Christmas rally stopped. ADVL (ADVP on the chart below is negative), PPO histogram, and RSI changed direction. In my opinion, currently, the short-term price action is consolidation. The trend is sideways. Correction Target is near 420 points.
2100news Digital Assets 100 Large Cap Index (NWSL100)
Large-cap Digital Assets have similar charts as total market. ADVL (ADVP on the chart below is negative for the second day), PPO histogram, and RSI changed direction. In my opinion, consolidation is in place and a sideways market. Correction Target is near 400 points.
2100NEWS DA Ethereum Based Index (NWSET100)
2100NEWS DA Factor Indexes are designed to capture the return of factors that are common to individual groups of digital assets at crypto markets. I’m a researcher that is interested in the deep understanding of crypto, I’m curious to know what are the links between the different groups of digital assets. A very interesting finding comes when we look what was the behavior of Ethereum based tokens and Ether in the Christmas rally.
We can see on the chart that Ethereum based tokens lost 23% vs. Ether in the Christmas rally. This tells us, that investors were selling tokens and buying Ether during the rally.
2100NEWS DA Coin Index (NWSCo100)
On the chart, we can see that Coins started the Christmas rally (blue arrow) and performed almost 19% better than Ethereum based Tokens.
One comment
Ben
April 10, 2019 at 9:13 pm
how does one get access to your indicators? the tool section seems to be repeating the same content
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