Uptrends intact as cryptocurrencies challenge 62% retracement bands
Fundstrat Crypto FX indices: A-D lines are in confirmed uptrends with mid-cap continuing to lead
Cryptocurrency breadth, as measured by the Fundstrat FS CryptoFX Advance-Decline lines continue to build positively across the large-cap (FX10), mid-cap (FX40) and small-cap (FX 250) indices. The performance of the FS CryptoFX40 Mid-cap index versus the FX10 Large-cap index is particularly noteworthy, having established a series of higher highs confirming a longer-term upside trend reversal. In addition, the FS CryptoFX 250 Small-cap index has yet to confirm a positive upside trend reversal with higher highs vs the FS CryptoFX 10 large-cap index.
Over the past week, BTC’s 2020 uptrend remains firmly intact as it continues to challenge its next resistance band coinciding with the 50-62% retracements of the 2H 2019 corrections just below its 2018-2019 downtrend.
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