RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
Bitcoin versus a pool of crypto currencies
The current rally is strong across a lot of cryptos [1] but I cannot see how it is staying up? The Weinstein Mementum [5] is below but headed, close, up through the zero and the %1 A/D [6] has already done this. However, the number of cryptos with their 50 day EMA above their 200 day EMA has barely moved. My suspicion is this is the start of Stage 1 rather than a move straight in to Stage 2 although in various measures the long term breadth has strengthened.