History tells us that price trading below the 50WMO usually indicates that we are in a bear market. Based on previous time cycles, we are due for a more sustained correction into the four-year cycle low.
Note
Bear market now in full swing, almost hitting the 2017 bull market highs. I'm looking for a decent bounce here before price continues what I believe will be lower till the end of the year.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.