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BTC #F Demand
The daily chart above shows our SUPPLY and DEMAND Dashboard and BXB (Bar by Bar) Signals for Bitcoin Futures trading on the Chicago Mercantile Exchange.
Readings are based on Supply and Demand and Volume internal data. It is updated in real time during the trading session of the CME exchange and does NOT take into account any price indicators or mathematical formulas using price. We do however show the cumulative price change for the trading session and in some instances assess price movement’s relationship to Supply and Demand. It is therefore fair to say that the readings and signals are independent from other popular price indicators and others shown on the chart. The readings are an independent assessment of the one and only measureable fundamental market mover: SUPPLY and DEMAND. It does not matter if price is influenced by a geopolitical event, seasonality, fundamental economic data releases or sentiment driven news, etc. It all reflects in Supply and Demand, the “footprints” of the “Big Boys” or “Smart Money”.
It is still early in the day and Supply can still enter the market, but we have a buy signal on the BXB Board (Long alignment on the two Dashboards).
Daily Signals May the 17th
The Supply and Demand Reading (1st row) is 2.1 which indicates Demand have the upper hand the time the reading was taken.
Supply and Demand Direction (3nd row) is to the upside (blue up triangle), indicating upwards direction.
Average Supply and Demand Volatility (4th row) is below 100% and is bullish. The change in average Volatility from the previous day was positive 0 (demand is getting stronger) as shown on the right of Sup/Dem Dashboard.
We have a buy signal on the signals board (1st row).
Daily Volatility direction (2nd row) is Bullish (blue up triangle). The change in daily Volatility from the previous day is positive 28 (demand is getting stronger) shown on the right of BXB Dashboard.
Average Volatility direction was Up (blue up triangle in 3rd row).
Supply / Demand direction was Up (positive reading in 4th row).
It looks like we will see pullback to the up side, after the down move from the previous swing high on the 4th. Demand is increasing and the Supply / Demand sentiment tool is sloping upwards and we are moving out of Selling pressure territory on the Simplified Volume tool.
On the 3-day chart, shown below Supply is still present (-0.3) and volatility has increased a bit, so further weakness can develop, especially if the 8000 level does not hold.
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