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

BitPandas BCI10 Crypto Index Market Breadth 19.08.2021

 

BitPandas BCI 10 Crypto Index Market Breadth for 19.08.2021


Honestly, I thought Crypto currencies would suffer from more weakness during the last trading days. But the BCI10 and its components show an incredible strength.

Market breadth data for the BCI10, however, shows a small decline for the percentage of members trading above their SMA 50. This is usually a sign that the positive trend lost some momentum.

The McClellan Oscillator has been negative two days in a row, but is already showing tendency to move back to the zero line.

The McClellan Summation Index is still strong.




 

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