When the MA(50) crossed the MA(100), it signaled a change of trend direction, Until it bounced off a Demand level and retraced back to the MA(100) / Supply level and continued strongly downtrend.
Downtrend is expected to continue further until it reaches demand level.
I am expecting the price to bounce off the demand level, retrace back to the MA(50) / MA(100) before continuing its downtrend.
Should the price close above the MA(100) or if the MA(50) crosses again, it may signal that the trend is coming to an end with a change of trend direction altogether.
Downtrend is expected to continue further until it reaches demand level.
I am expecting the price to bounce off the demand level, retrace back to the MA(50) / MA(100) before continuing its downtrend.
Should the price close above the MA(100) or if the MA(50) crosses again, it may signal that the trend is coming to an end with a change of trend direction altogether.