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Assessments / Blog
BTC #F Supply on 3-Day basis
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”.
In Yesterday’s assessment we warned that “If Supply on the 3-Day chart shown below does not strengthen, we will probably see more weakness. There is substantial short term weakness at the moment”. The 7805-level did not hold and Supply is now dominating on a 3-Day basis. Further weakness can be expected.
Daily Signals May the 24th
All readings and signals is bearish!
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