This only happened 2 other times

MFI is basically the RSI but accounts for Volume as well. We've only seen this daily low of MFI twice before nearly a year ago before it's huge run up. Does this suggest a near-bottom? I'd suggest so - see related ideas. I think it's a rather safe bet as we likely won't see a liquidation flash crash as most people are bearish and longs are at a low. If anything, we may see another July 21st situation once the bearish mentality slips.