Bitcoin Technical Analysis Hinting at the Acceleration of an Uptrend - 02/10/18

In its simplest form, futures contracts are a trader’s bet on the future price of an asset. So, the Bitcoin futures, whether it be the CBOE or CME Bitcoin futures, or the soon-to-be-launched NASDAQ Bitcoin futures, are derivatives that assess a market maker’s expectations with the price of the underlying, which is BTC. We looked at the CME Bitcoin futures chart for the past month and noticed a clear reversing pattern.

While the overall sentiment of the market for Bitcoin is expected to remain bullish, the spot market may experience a short-term dip when any of the Bitcoin futures come to expiration. Bitcoin futures being cash-settled also does open up the opportunity for price manipulation by aggressive end-of-day buyers and sellers, here is the full analysis: This Chart Confirms A Bullish Reversal In Trend For Bitcoin - Futures indicate a bright future for Bitcoin (BTC)