Mastercard (MA) has just formed its first 1D Death Cross since March 2022, trading already below its 1W MA50 (blue trend-line) for the 5th straight week. This confirms the new Bear Cycle/ long-term correction, in a similar manner that the September 27 2021 1D Death Cross did.
As you see, there are high similarities between the two sequences that led to that Death Cross, rising by +134% and +116% from their respective market bottoms and more importantly displaying identical huge 1D RSI Bearish Divergences (Lower Highs against price's Higher Highs).
As a result, with the 2022 correction finding a bottom just below the 0.382 Fibonacci level and the 1W MA250 (red trend-line), we again expect the market to reach at least $450.00 before bottoming and start calling it a buy opportunity again.
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As you see, there are high similarities between the two sequences that led to that Death Cross, rising by +134% and +116% from their respective market bottoms and more importantly displaying identical huge 1D RSI Bearish Divergences (Lower Highs against price's Higher Highs).
As a result, with the 2022 correction finding a bottom just below the 0.382 Fibonacci level and the 1W MA250 (red trend-line), we again expect the market to reach at least $450.00 before bottoming and start calling it a buy opportunity again.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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