A key charting event will happen in the coming days : MA (moving average) cross over
Orange Curve is the 50 day MA and Blue Curve is the 200 day MA
Both will cross over likely by early next week and typically it means a trend reversal
In general across both capital markets and crypto markets,
(a) If 50day MA goes down after the cross over, it confirms a downward trend
(b) Else If the 50day MA goes up after the cross over, it confirms an upward trend
Early next week (14th/15th June), the cross over will indicate (a) which is a downward trend.
This means even if a bounce back is seen the next few days, the downward trend could resume once again from this weekend or early next week and test levels around 30K or below later this month
Whenever (b) happens, we can confirm the uptrend has begun. Going by historical data, this has taken a couple of months to even a year.
Orange Curve is the 50 day MA and Blue Curve is the 200 day MA
Both will cross over likely by early next week and typically it means a trend reversal
In general across both capital markets and crypto markets,
(a) If 50day MA goes down after the cross over, it confirms a downward trend
(b) Else If the 50day MA goes up after the cross over, it confirms an upward trend
Early next week (14th/15th June), the cross over will indicate (a) which is a downward trend.
This means even if a bounce back is seen the next few days, the downward trend could resume once again from this weekend or early next week and test levels around 30K or below later this month
Whenever (b) happens, we can confirm the uptrend has begun. Going by historical data, this has taken a couple of months to even a year.
