Bitcoin Review: Futures Contracts In Focus
Eric De Groot | Mar 20, 2019 01:47AM ET
Bitcoin has two futures contracts trading at the CBOE and CME, respectively. The CBOE announced that the Bitcoin trading will be terminated after the June contract expires. This leaves the CME as the sole futures contract. If you're bullish on Bitcoin as the price rallies, you are not listening to the distribution of leverage (energy) behind the trend at the CME. Bitcoin's DI has fallen below -60% (Matrix Line 38). DI readings below -60%, bearish setups, define distribution as the weekly trend resets. This is bearish. If DI = -100%, it's a market driven by perma bulls and their followers.
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