2100NEWS WEEKLY CRYPTO REPORT
Written by Branko on February 11, 2019
2100NEWS DA (Digital Assets) Factor Indexes and Crypto Market Breadth Indicators serve for general analysis of market direction… Timing is Everything. In the 2100News weekly crypto report, we analyze and gauge the entire crypto market to understand why the crypto universe is as it is in order to understand where we go.
In the last week, markets kept on moving sideways, with very low volatility, followed with a strong reversal on Friday. We have had a series of fake-outs trapping both longs and shorts last month. As you can see on the above chart 2100NEWS Digital Assets Total Index (NWST1100), this type of market forms a range bound horizontal or slightly angled channel. The reversal was not the only rebound in a bearish trend, but the upward movement was also sufficient to change trend back to sideways. After a market rebound, the wave of PPO histogram headed positive, RSI was over 55 which is neutral near the bullish border (60).
Looking ahead to next week. Breadth indicators – ADVL and McClellan summation index and indicators PPO histogram and PPO are rising. We expect a short term sideways trend. Since the PPO wave shows swing up that means that the market will be optimistic for the next few days. There is also a possible bullish breakout which would lead to the formation and confirmation of a bullish trend. The RSI (more than 60) will confirm the bullish trend.
Performance of different groups of Digital Assets (Coins and Tokens)
Last week we saw a sideways trend in the slightly angled channel, followed with strong rebound. On the table below, you can see that digital assets, Tokens based on Ethereum represented by 2100NEWS DA Ethereum Tokens Index (NWSET100), have been the best performing group after Christmas rally. It rose by more than 20%. At the same time the Total market (NWST1100), Bitcoin, and Ether (NWSBE) rose about 15%. In addition to this, the graph shows a special value of the 2100NEWS DA Factor Indexes, the pattern of Coins and Tokens movement marked with a blue vertical line predicts the start of a rally.
Total (NWST1100) index surged by 4.67% last week.
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. As you can see since November 13th crypto has lost the ground vs. global equity. This year crypto vs. W1Dow lost almost 12%.
Indexes Revision 2-8-2019
The weekly revision update both, the amount of each asset publicly available and any additions and deletions from the indexes. On the table below there are additions and deletions from NWSM200. New mid-caps members of NWSM200 are BitTorrent, Bitcoiin, BetDice … Other weekly additions and deletions this week for the other indexes from the family are available here.
We select the member in the NWSL100 crypto index with the biggest jump in our ranking. We can see from the chart that THETA (THETA) has performed better than average coin or token which is a member of NWSL100 index, after Christmas rally its price performance is over 45% better than NWSL100.
|2100NEWS ranking: 70, Large cap Ethereum based Token, Index member: NWST1100, NWSL100, NWSTo100, NWSET100, NWSDM100|
|The Announcement of a new phase of software development|
THETA is an open-source protocol that powers a decentralized streaming network. It will allow for decentralized apps (DApps) to be built on top of the platform to enable use cases that span esports, entertainment, and peer-to-peer streaming. SLIVER.tv’s DApp was the first application built on the Theta network leveraging its existing user base of millions of esports viewers. In Nov 2018, Tencent Games announced a collaboration with SLIVER.tv to bring Theta rewards to Ring of Elysium players. The founding team has a combined 30+ years of experience in the video streaming space with advisors including Steve Chen, Co-Founder of YouTube, and Justin Kan, Co-Founder of Twitch.
— Theta Network (Not giving away ETH/BTC) (@Theta_Network) February 6, 2019