I made a new YouTube video with updates to the price projections based on the averages of the Summer selloffs and the MFI selloffs. This is a little bit different (maybe refreshingly simplistic) type of TA. Please let me know what you think. (I'm ST Bearish / LT Bullish)
Links to my charts:
5/17/19 8:40 AM CST Update:
It looks like our short term top is in so I went ahead and updated the chart to show what the possible pullback levels are. I’m also adding a chart from the Spring of 2013, which is looking more and more similar to the Spring of 2019.
Note that in 2013 we had a massive 3 month Spring rally that led us to overbought conditions and the...
Looking at the weekly Money Flow Indicator on Bitstamp we can see that Bitcoin hasn’t gone above 95 since 2013. In fact only 3 times previously has it gone above 95. That was in 2012 and twice in 2013.
Analyzing the history since 2012 we can see that the Weekly MFI has gone in the red only 8 times in the last 7 years. Each time it did, the immediate price drop...