Stepping back and looking at BTCUSD on the daily chart shows that the last time the Money Flow indicator was below 16 was back in 2017 around September and October. Notice how the indicator crossed below 16 and came back up with full bullishness. We dont see that same indicator on the MFI until now in August 2018 when MFI crossed below 16 again and is coming back up to most likely begin a new bull run. The difference between 2017's bull run and the one we are most likely starting to experience is that in 2017 there were no resistance levels to test. In 2018 on the other hand, we have lots of resistance levels we need to test as a result of the 2017 bull run. I believe that volume will be key in helping cross all of these resistance levels and head towards ATH(All Time Highs).
Happy Trading Everyone!
Happy Trading Everyone!