Why Some Experts Believe We’re Still in a Crypto-Bull Market Despite Recent Crash By DailyCoin – Investing.com

Why Some Experts Believe We’re Still in a Crypto-Bull Market Despite Recent Crash By DailyCoin – Investing.com

Experts claim the dip is only temporary

The cryptocurrency market continues to be in a state of flux. This is evidenced by the fact that for the most recent week, bellwether crypto-asset , failed to close at a price higher than the critical 21-week exponential moving average (EMA).

The 21-week EMA is an important line of support when it comes to technical analysis because it's heavily weighted toward the most recent pricing data points. Closing well below that support level, which was roughly $46,500 as of Sunday May 23, is widely regarded as being a significant bearish signal for Bitcoin – as if the recent 50%+ drop to the low $30,000s U.S. wasn't enough of a bearish signal.