In the past week, digital assets experienced a rapid surge then a parabolic bitcoin price endured a sudden sell-off, total (NWST1100) index ended week 13.71% higher. 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. 

After ascending as high as $13,900, a parabolic bitcoin price endured a sudden sell-off. A wave of sell pressure rocked the market, sending BTC careening downwards. Within 15 minutes, the flagship cryptocurrency had crashed, a 15% plunge from its intraday high. We can see on the (NWST1100) chart, that after sell-off we were observing consolidation.
Looking ahead to the next week, the indicators give us the following signals: we can see that RSI is near 50, the PPO wave could continue declining, PPO histogram could be negative in the next few days. Breadth indicator McClellan summation index and ADVP a breadth statistic based on Net Advancing Volume are declining. This set up means that is likely expected a strong move down, the target could be a region near 950 points.

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

Looking at the table, you can see that Total (NWST1100) index soared by 13.71% in the past week. Bitcoin and Ether represented by 2100News NWSBE index was the best performer in the last three months. Good performer vs. equity but bad performers vs NWSBE were Ethereum and other Tokens.

 

 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 about 130% and with this growth, it reached new highs. 

 


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