Money Flow is Too High for a Relief Rally
We're in a triangle barchart formation right now so a breakout this week is imminent.
Yet we're at the top of the MFI chart. There's little room to define more velocity here.
If we were going to go up 50% from $1500 to $3000, it would have already happened.
It would have happened today. Because money flow is already high. But we only got 5%.
For instance, AMC went to the top of the MFI chart around the same time as ETH and it was already up 300% on the week at one point today.
It had clearly defined velocity. ETH has none. Seems more like hope than a relief rally.
Yet we're at the top of the MFI chart. There's little room to define more velocity here.
If we were going to go up 50% from $1500 to $3000, it would have already happened.
It would have happened today. Because money flow is already high. But we only got 5%.
For instance, AMC went to the top of the MFI chart around the same time as ETH and it was already up 300% on the week at one point today.
It had clearly defined velocity. ETH has none. Seems more like hope than a relief rally.
