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#bitcoin daily Money flow Index part 1
Here i've highlighted some of the more serious money flow moves we've had in the past to compare to the current correction.
The orange boxes highlight previous money flow moves which reached the same level of depth as the current move.
the grey box has been thrown into this analysis as its the most recent bearish money flow move but even though the draw down was 50%, you can see the money from depth although bearish, did not reach the same levels as be other ones highlighted.
Does this mean the current move could result in a larger draw down of 80% maybe before turning bullish? potentially yes. What's for sure is we are only 40 days into this money flow correction so far. I don't see any real bullish moves to new ATH's for at least another 100 days.
The money flow indicator used here is part of the Market Cipher indicator Suite
The orange boxes highlight previous money flow moves which reached the same level of depth as the current move.
the grey box has been thrown into this analysis as its the most recent bearish money flow move but even though the draw down was 50%, you can see the money from depth although bearish, did not reach the same levels as be other ones highlighted.
Does this mean the current move could result in a larger draw down of 80% maybe before turning bullish? potentially yes. What's for sure is we are only 40 days into this money flow correction so far. I don't see any real bullish moves to new ATH's for at least another 100 days.
The money flow indicator used here is part of the Market Cipher indicator Suite
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