Bitcoin interpretation: Bitfinex BTCUSD (30 minute chart) 4th June 2018
Bitcoin showing Bullish divergence here with weaking bearish waves both on price and volume. A MACD classic bullish divergence is also visible.
Contrarian traders are also frequently rewarded by counter-trading increasing Bitfinex short positions. Most notably the case at $6.8k where short positions fueled a $1200 price spike.
Optimistic in a long position here. Will personally be buying using dollar cost averaging down to ~$7k.
Legal Disclaimer: I am not a financial advisor. The information provided in this blog post and any other posts is for informational and entertainment purposes only. It is not investment advice. Consult a qualified financial advisor before investing. Do not invest more than you can afford to lose.
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