Just a quick observation of BTC from the last year. the last time the MFI (Money Flow Index) dropped well below the oversold area, we had a few days of consolidation, followed by a massive sell off in March 2020 which was a massive event across every market. While the event that caused that huge drop is likely not to happen (covid/lockdown news), The fact it came days after the MFI dropped suggest the MFI could be a leading indicator rather than a lagging indicator.
We're already seeing corrective drops, those could be a precursor for the biggest drop since March 2020, following which there would be the start of the new legs back up through the 5 figures & onwards to the 6 figures.
I'm looking for the big drops to maybe be as low as the $30ks or high $20ks, possibly extreme scenario, but considering most institutions would be out of pocket by that stage, dropping even lower seems unlikely.
We're already seeing corrective drops, those could be a precursor for the biggest drop since March 2020, following which there would be the start of the new legs back up through the 5 figures & onwards to the 6 figures.
I'm looking for the big drops to maybe be as low as the $30ks or high $20ks, possibly extreme scenario, but considering most institutions would be out of pocket by that stage, dropping even lower seems unlikely.
