Will We Close 50 Week Moving Average?

Hi everyone,

Thank you for considering reading my idea.

In the past cycles, whenever we close below at 50 Week Moving Average (orange line), we tend to dump down to the 200 Week Moving Average (green line). It seems like closing below 50 week MA indicates the start of the bear market except of course back in March 2020 which is the COVID black swan event.

We still have less than 3 days as of this posting to close the weekly candle above $48.4K. If close below that, we may bounce in the 200 week MA that is currently at $18.9K (which will go up in the next few weeks)

Like this idea and follow me for more analysis like this. NFA. TAYOR. DYOR.

Cheers,
Juvs