On June 10, Decrypt analyst Jose Antonio Lanz stated that the gap between Bitcoin's 50-day Exponential Moving Average (EMA) and 200-day EMA is widening, which is typically a signal of increasing bullish market momentum. Moving averages are essentially the average price of an asset over a specific time period, in this case the average prices over the past 50 and 200 days. The larger the gap, the stronger the market trend.
This trend confirms the medium-term bullish outlook, successfully avoiding a potential "death cross" and making the short-term moving average range more likely to be seen as a good price support zone. In other words, even if the price pulls back, it would be difficult to fall below the key support level of $100,000 - where the current EMA line is precisely located.
