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

Mini break for NASDAQ 100 - for now

Mini break for NASDAQ 100 - for now

The NASDAQ 100 took a mini break from chasing new record highs and is now trading within a narrow range.

Technical chart (daily) for the NASDAQ 100


Technical chart (daily) created at tradingview.com

The technical chart with the simple Envelopes reveals that the index is no longer considered as overheated and the RSI confirms this.

The distance to the SMA 20 remains high but declined a little bit.

One earlier high at 15447 serves as a level of confidence while one level above, at
15526, proved itself as a level of support, setting the lower limit for the current trading range.
 
As long as the index remains above 15 447 on the daily chart, there is nothing to worry about.
 

Technical chart (hourly) for the NASDAQ 100


 
Technical chart (hourly) created at tradingview.com
 
Talking of trading range - the hourly chart of the NASDAQ 100 with modified Evenlope settings gives a nice impression of the current range where a mini break and mini consolidation are taking place right now.

I think there is not much to add at this point - let's see if the NASDAQ 100 will leave this range downwards or upwards.


Looking only at the technical chart, the index is still moving within a strong upside trend with a nice distance to the SMA 20. Nothing to worry about (yet).
 

Market Breadth Chart for the NASDAQ 100 

 
 
On our market breadth chart we've been including the Envelope bands for quite some time now. The index still trades within the upper band, being slightly overheated, but this state is wearing off already (and remember, the Envelope bands also advance and usually catch up with the price at some point).

The Advance Decline Line for NaSDAQ 100 follows the price - no clear divergences here.
 
Advanced vs. Declined for NASDAQ 100 is no longer at an extreme value and reasonable for this trading day.
 
The McClellan Oscillator for the NASDAQ 100 is below the zero line with a relatively low value.

The McClellan Summation index stopped to rise and declined again. I am sorry for the spike in the data here (see third last bar at this indicator). I have to check what went wrong there.

At the moment, market breadth data reflects that the NASDAQ 100 stopped to advance rapidly and took a small break. I don't see any warn signs here.

 

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