In our brief review, we will analyze the next COT (Commitments of Traders) report on Bitcoin futures contracts of the Chicago Mercantile Exchange (CME) for the period from 05/09/2018 to 05/15/2018
As always, we provide two options for presenting the report. On the website of the Commodity Futures Trading Commission (CFTC), the weekly CME report was published on May 18, 2018 in this form.
From the website of the CME exchange (Chicago Mercantile Exchange) we took two reports at once - for the current and for the previous week to more clearly identify changing trends.
The current report shows that the number of large traders has increased by one participant and amounts to 28 players. 12 have long positions, and 16 have short positions. There are a majority of traders who believe that the Bitcoin price will fall by the contract execution date.
The total number of contracts compared to last week increased by 20 and is 2,505.
The number of contracts open for sale exceeds the number of purchased ones by 15.1%. Despite a whole series of fundamental events that, it would seem, should have supported the market, we see that last week the prevailing views were to reduce the price of Bitcoin. The same mood was there the week before last.
You May Also Like
Analysis of cryptocurrency pairs BTC/USD, XRP/USD and ETH/USD as of November 30, 2018
Yesterday there was a decrease in buyer activity. We still remain hopeful that a correction to the next Fibonacci level will develop. However, exit from the formed consolidation range is quite possible if the downtrend continues
Analysis of Bitcoin Cash, Stellar Lumen, EOS and Litecoin as of November 23, 2018
Today the price has emerged from yesterday’s consolidation and some altcoins even managed to update their lows. But we believe that after the end of the corrective recovery, prices will continue the sideways trend.
