RE: Bitcoin - Stage 1
(2021-08-08, 05:00 PM)pcabc Wrote: Interesting post. My breadth chart is below:
Note on the % of stocks above the MA, I'm using the 50 and 200 day EMAs. Value for the 50 day EMA is notably different, but then different types of MAs are being used, so apples and oranges are being compared. I don't think we will see anything on new-highs minus new-lows - as that data is based on new highs in the last year and if most cryptos made highs back in March / April we won't see any indication on new-highs minus new lows until those highs have either been exceeded, or until March / April 22. I note my medium term score has strengthened recently but the long term score has dropped below zero. Of course, this was developed for stocks and although logical does not have as much back testing as I would like. So whether this is meaningful is a question to ask. Quite difficult to identify why my long term score has dropped rather than strengthened, a lot of parameters go into it. But if the market is strengthening it ought to move upward shortly.
I don't know about your scoring, as is something custom that you've created. But otherwise looks similar in that short term breadth thrust in the cryptos, with improvement in the longer measures as they start to come out of the lower zone. So bullish breadth signals from what is considered the best area. i.e. coming out of the lower zone strongly after of long period in it.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.