The Money Flow Index is a signal most don’t even know or chose to ignore. But it is very powerful.
Now there’s a lot of fear about, that’s for sure… but we take care of that by looking left.
On the above 3-day chart we have our strong price action support trend line. There was a strong bounce off this trend line when MFI touched 30. Circled in purple are the convergences between a MFI of 30 and trend line support.
So whatever happens over the remaining days of this month, know this, probability is on your side ;-)
WW
Trade closed manually
⋅
Just as before, history repeats... and the fearful sell their Bitcoins cheap cheap.
Comment
⋅
PS: following the confirmation, if you see 45.5k, grab it, price action is very unlikely to fall below this level.
Trade active
⋅
Price action now moves to $62-63k before taking some consolidation time.
Trade active
⋅
Remember this idea? Look left, see where MFI is? ;0)
Nice idea, I like that you use a 3 day time frame. There are so many manic crypto traders out there showing their 30 minute charts, who trades that TF!?
without_worries
⋅
@Tiger_Style, I know - don't understand it, I'd be so stressed out watching changes in price action every 30 minutes. Even 4hr charts make not sense for me, but the Youtubers seem to like.