Main explanation is on the chart.
Another thing to note is that OKCoin quarterly futures barely retrace in relation to the spot price and the smaller time frame futures. I interpret this is bullish as the longer term investors (quarterly) see a bright future and are reluctant to sell.
Bullish news includes the 21 Inc. investment and obviously the upcoming BitLicense and Winklevoss ETF.
Comments and criticisms are welcome!
Another thing to note is that OKCoin quarterly futures barely retrace in relation to the spot price and the smaller time frame futures. I interpret this is bullish as the longer term investors (quarterly) see a bright future and are reluctant to sell.
Bullish news includes the 21 Inc. investment and obviously the upcoming BitLicense and Winklevoss ETF.
Comments and criticisms are welcome!