It's not likely to move below the 50 week average just yet and if it did so it would be the first time for this whole year so especially bearish. Some price levels are related to a rough sentiment that would match that amount of movement in the price. I doubt we get it by month end but should we have a prolonged series of negative weeks into months it might occur before resolving one way or the other.
Bitcoin has moved above the price that it can correct back to below 50k as at the moment the Bitcoin correction benchmark is 61k and 59k respectively which is an indication of a pending Bitcoin bull run which will see Bitcoin moving to 70k before the end of October.