Crypto Market Barometer released on advance-decline.net

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  Crypto Market Barometer released Today I published my simple but easy-to-read Crypto Market Barometer on our website https://www.advance-decline.net. Click here to get to the new Crypto Market Barometer. This is how the main chart looks like: What's behind the new Crypto Market Barometer We believe that one simple but effective method of gauging the health of a market is to look at how many of the most important individual assets trade above their important SMAs. Since SMAs are a proven way of determining the current trend, a market must be in an uptrend, if more than 50% of its biggest assets trade above their long-term SMAs. If they trade below their long-term SMAs, they must be in a downtrend. For the crypto market, I decided to check the popular BitPanda Crypto Index BCI10. It contains the 10 biggest crypto currencies by market capitalization, and frankly, by only looking at BitCoin, Ethereum, Polkadot and maybe Binance, we already have most of the market covered (again, in

Crypto Advance Decline Line for Crypto Index BCI5 and other Market Breadth Data

Wow! Some crypto currencies had a very good day. Rumor has it Amazon and Twitter could plan to accept crypto currencies as a payment method. Surely, those rumors need to be taken carefully, though.

However, market breadth data is influenced by today's spike in the prices. So - ket's have a look for them.

Here is the market breadth data for the crypto index BCI5 from Bitpanda.

State of the BCI 5 crypto index

Summary




Advance Decline Line and Advanced vs. Declined for this crypto index


McClellan Oscillator and McClellan Summation Index for this crypto index





% of crypto index members above their SMA50, SMA100 and SMA200



Bigger picture: Market breadth data for the last 6 months (selection)

 

To gain a better impression of what was happening during the last days, I attached a data screenshot of a bigger time frame (6 months).

As you can see, the McClellan Summation Index is near the 0 line. This is a good sign for the longer time frame. The McClellan Oscillator, however, went from one extreme to another. For the shorter time frame, this is usually a sign that the speed of the short-time trend might slow down or even reverse (short-tearm meaning days).




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