[pcabc]

Crypto breadth

We are in a bit of a pullback at present across cryptos.  My breadth chart is below.  Key points:
1. Advance / Decline has diverged.  However, Advance / Declining volume (Bitcoin volume only), is at a new high.

3 & 4.  New Highs - New Lows is around zero.  The cummulative line is flat.  Neutral.

5 6. Weinstein Momentum & 1% A/D have both just crossed from positive territory to zero and are falling.  Bearish.

7, 8, 9 & 10.  The McClellan Oscillator, Summation Index and volume counterparts are all bearish.

11, 12 & 13.  The % stocks above their 20, 50 and 200 day EMAs have all dropped, with the % above the 200 day EMA being only just above 50%.

14 & 15.  Silver and Gold Cross Indices have rolled over, though rather early to see if the recent rising trend of the Gold Cross Index is reversing or whether this is just temporary.

I note Etherium has, as of posting made a +7% move.  However, taking Etherium and Bitcoin out the picture the rest of the cryptos are minnows.  So how relevant is this breadth plot to Bitcoin and Etherium?  I must admit I have been tempted to buy on the dip.  However, overall crypto breadth from the chart is looking rather negative so perhaps hold off until things start to strengthen.  Of course, it won't strengthen until some start moving up so I will likely miss the first movers.