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 Crypto Index BCI 10 - Market Breadth 7th August 2021

BitPanda Crypto Index BCI10 - Market breadth data as of today (7th August 2021)

BitCoin and Ethereum, the two largest members in the BCI10 crypto index from BitPanda, gained more ground during the last 48 hours, thus making it a very interesting weekend for crypto fans and investors.

How does the market breadth data reflect the current gains?

  • The Advance Decline Line reflects the end of the recent correction; it is still on the rise
  • Advanced vs. Declined Data obviously has a strong phase; since July the 21th 2021, the graph has spended most time around the value of 10
  • The McClellan Oscillator reached the highest values since I began to generate market breadth data for this index; currently, this indicator is loosing momentum but it is still positive and above the zero line
  • The McClellan Summation Index passed the 0 line on July the 30th, giving positive signals to cyclical traders and investors
  • The percentage of BCI10 crypo index members trading above their SMA50 began to rise from 0 to higher values after July the 23nd 2021 and is now at 90%; this is a strong statement about the current bullish trend
  • The percentage of BCI10 crypto index members trading above their SMA100 is currently at 20%, which is still low, but the highest level for the last 6 weeks
  • The percentage of BCI10 crypto index members trading above their SMA200 is currently at 40%; this is still a bearish level


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