I see you pointed out the bearish divergence in the MACD histo, but didn't you notice the even larger hidden bullish div in the next wave? That lower low in the histo combined with a higher low in the price indicates that market sellers could not overcome the support in the consolidation level.
I don't work with hidden divergence.........it worked on this occassion but over the piece, it is nothing more than a coinflip in my view.
Like so much action in Bitcoin, this move was engineered. Had the Market Maker(s) been hit by a bus on the way to work that day, then the pump probably wouldn't have happened. I watched the antics on Finex, the way large bids were placed at just below spot encouraging all the other little fishies to take a bite..it took a while, but ultimately they did and when 'they' got BTC up above the high at $435.60, Short Covering done the rest (including my short stop). Any USD that 'they' had to spend on BTC to kick BTC's ass up against all the weight of the market internals, would have been gotten back on the Stop Run, and then some.......but what is it they say? "Never short a dead market"? Worth noting, is that post the Short Stop Farming, BTC has stopped dead in it's tracks. Enthusiasm for BTC vanished beyond that point, but no classic FU Sell Off either......perhaps this is the start of the co-ordinated Halving Pump?
I have been paper trading stocks just to test out setups and trade ideas and I can tell you, compared with BTC, these markets behave themselves. In defence of BTC trading, at least it is not as criminal as Forex....I keep my eye on that as well and Fuck Me, shennanigans on FX is a practical guarantee. Why so many small guys want to play on Forex I really have no idea...perhaps the x1000 leverage has something to do with it.