Essentially whichever of those two lines we cross first and stay across over 24 hours will tell everyone which way BTC is going for the rest of the summer.
I remain long term, but not until late 2018 do I expect us to recover from this extended downward movement. It seems likely after the pronounced drop of the past 48 hours, we will see a brief recovery, before testing $6k once again - but will it hold this time?
Please give me a thumbs up if you agree. If you don't write a comment telling us why. This analysis is for educational purposes only and not a recommendation to buy or sell. Always do your own research before trading.