The 1-Week MFI Shows Why a BTC Recovery Rally is Premature
We haven't hit the 1-Week MFI (Money Flow Index) bottom level yet.
Maybe we're stuck here because the bulls are forcing a recovery too soon. Maybe they don't understand what caused the relief rally in 2018 because they only look at the MACD and not the MFI.
In the 2018 bear market, we had a recovery rally only after we hit the bottom MFI level. Here's an image at the start of 2018:
https://www.tradingview.com/x/z1ihssLm/
(I'm experimenting with making MFI my primary TA strategy for both stocks and crypto. It's a MACD-MFI strategy.
Maybe we're stuck here because the bulls are forcing a recovery too soon. Maybe they don't understand what caused the relief rally in 2018 because they only look at the MACD and not the MFI.
In the 2018 bear market, we had a recovery rally only after we hit the bottom MFI level. Here's an image at the start of 2018:
https://www.tradingview.com/x/z1ihssLm/
(I'm experimenting with making MFI my primary TA strategy for both stocks and crypto. It's a MACD-MFI strategy.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.