WEEKLY CRYPTO Archives - 21000NEWS

BrankoOctober 7, 2019
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6min432

Over the past week, the NWST1100 was hovering near the lower Keltner Channels line, the index was practically unchanged +0.36%. The inability to clear 10-days EMA kept the index in a sideways trading range and left open the possibility of further falling. Last month crypto leadership was coming from Ether, Large-caps, and Coins. 

*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent the top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth. 

In the previous report, it was said that our assumption had been: PPO histogram bars (blue arrow) could have changed the slope to positive, which would have been a sign of weaker downside momentum. The likelihood of a rebound to 10-days EMA was similar to the short culmination of a negative trend. On the NWST1100 chart, we can see, that the index was hovering near the lower Keltner Channels line. At the same time, its 14-day RSI was oversold, the brown PPO histogram bars have increased and the PPO lines (upper box) have flattened out. The inability to clear 10-days EMA kept the index in a sideways trading range and left open the possibility of further falling.

Looking ahead to the next week, the indicators give us the following signals: we can see that RSI is 25 and oversold, the brown PPO histogram bars could cross 0 in the next few days.  That would be a sign of upside momentum. If PPO bars advance to 0 and stall it could be a failure at resistance and decline, the index will be headed to further falling. Breadth indicator McClellan summation index is flattening out. This set up is the basis, that in my opinion for the next week a more likely course is a move to the Pivot at 767 points but it is also possible that we will see another step down to the lower Bollinger line. This leaves open the possibility of retest the support near 630 points.

Performance of different groups of Digital Assets (Coins and Tokens)

Looking at the table, you can see that the Total (NWST1100) index was practically unchanged +0.36% in the past week.

Digital Assets decoupling

The breakdown of the market into groups represented by 2100NEWS DA indexes enables us to measure decoupling much more accurately than can do others who do not have the tools in the form of a full range of indexes. The two major indexes NWST1100 and NWSBE acted in a similar fashion. On the Bitcoin chart below we can see a similar setup as on the chart of NWST1100. As we can see in the chart below, since mid-July, the green histogram graph  (Ether) has behaved differently than the area graph (NWSBE). Last month crypto leadership was coming from Ether and Coins.  Large-caps (AltCoins) have been of the market’s strongest groups.

Crypto (Digital Assets) compared with global equity

On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with the average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow soared over 44% but over the past four months, we were observing a pullback. Two weeks ago NWST1100 plummeted vs. W1Dow again and last week we were observing a consolidation.

 

 

 

 


BrankoSeptember 23, 2019
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5min535

Over the past week, NWST1100 increased by 1.79%. The Total index rose to its peak but has lost traction. Last two weeks crypto leadership was coming from Ether, Large-caps, and Coins. The market capitalization of a whole crypto ecosystem has not grown, Bitcoin was being sold to buy ALT coins.

*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth. 

 

 

In the previous report, it was said that our assumption has been: more likely course would be a move to break upper trendline. On the NWST1100 chart we can see, that index rose to its peak but has lost traction at or above that price point. It was trading at its 10-days and 25-days EMA but it did not clear some upside resistance barriers. At the same time, its 14-day RSI lines, the brown PPO histogram bars, and the PPO lines (upper box) have changed the slope. That was a sign that upside momentum succumbed to bearish pressure. We need to be aware that in the last month the market capitalization of a whole crypto ecosystem has not grown, Bitcoin was being sold to buy ALT coins. On the table below we can see that Large caps represented by index NWSL100 and coins represented by NWSCo100 have reported the biggest gains in the last two weeks.

Looking ahead to the next week, the indicators give us the following signals: we can see that RSI is 42 and declining, the brown PPO histogram bars could turn more negative in the next few days.  That would be a sign of stronger downside momentum. Breadth indicator McClellan summation index and ADVP a breadth statistic based on Net Advancing Volume are raising. This set up is the basis for our assumption, that for the next week is a more likely course a move to the lower Bollinger. This leaves open the possibility of retest the support near 800 points.

Performance of different groups of Digital Assets (Coins and Tokens)

 

Looking at the table, you can see that Total (NWST1100) index increased by 1.79% in the past week.

Digital Assets decoupling

The breakdown of the market into groups represented by 2100NEWS DA indexes enables us to measure decoupling much more accurately than can do others who do not have the tools in the form of a full range of indexes. Last two weeks crypto leadership was coming from Ether, Large-caps, and Coins. On the Ether chart below we can see a different setup as on the chart of NWST1100 (the PPO lines are above 0). Large-caps (AltCoins) have been one of the market’s strongest group.

 

Crypto (Digital Assets) compared with global equity

On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow soared over 75% but over the past 15 weeks, we were observing a consolidation. Last 11 weeks NWST1100 reported 29.4% loss vs. W1Dow.

 

 

 


BrankoSeptember 9, 2019
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5min444

Over the past week, NWST1100 surged by 5.83%. The Total index rose to its peak and was backing off from overhead resistance along the upper trend line, it was trading at its 25-days EMA. Last five months crypto leadership was coming from Bitcoin, Large-caps (AltCoins) have been hit hard and have been one of the market’s weakest group.

*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth. 

 

In the previous report, it was said that our assumption has been: a more likely course would be a move to 25-days EMA. On the NWST1100 chart, we can see, that index rose to its peak and was backing off from overhead resistance along the upper trend line, it was trading at its 25-days EMA but it did not clear some upside resistance barriers. At the same time, its 14-day RSI lines (upper box) have risen to 50; and its daily PPO lines have turned more positive.

Looking ahead to the next week, chart patterns still show us Symmetrical triangle. The direction of the next major move can only be determined after a valid breakout in the next week. The indicators give us the following signals: we can see that RSI is 50, the brown PPO histogram bars could turn more positive in the next few days.  As a consequence, the PPO lines are close to crossing above 0. That would be a sign of stronger upside momentum. Breadth indicator McClellan summation index and ADVP a breadth statistic based on Net Advancing Volume are flattening out. This set up is the basis, that for the next week is a more likely course a move to the upper trendline for the third time since the start of July. Sometimes the third time is a charm. And it looks like this time it is.  This leaves open the possibility of a retest of  R1 (960 points).

Performance of different groups of Digital Assets (Coins and Tokens)

Looking at the table, you can see that Total (NWST1100) index increased by 5.83% in the past week.

Digital Assets decoupling

The breakdown of the market into groups represented by 2100NEWS DA indexes enables us to measure decoupling much more accurately than can do others who do not have the tools in the form of a full range of indexes. Last five months crypto leadership was coming from Bitcoin. On the Bitcoin chart below we can see a similar setup as on the chart of NWST1100 (Symmetrical triangle, the PPO lines are close to crossing above 0). Large-caps (AltCoins) have been hit hard and have been one of the market’s weakest group. So their ability to find support could give us a clue as to overall market direction.

Crypto (Digital Assets) compared with global equity

On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow soared to near 75% but over the past 13 weeks, we were observing a consolidation. Last two months NWST1100 reported 29.8% loss vs. W1Dow.

 

 

 



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