BTC Flow Analysis — November 19, 2021 BEAR
Friday · Minute-level BTC order flow from Binance · 1,560,459 trades
Summary
November 19, 2021: Bitcoin pushed +2.0% higher. The 2,571 BTC of net selling flow at $58,052 told a clear story — sellers were in charge.
BTC price (blue) and trading volume (cyan bars) per minute. Session shading: Asia (gold 00-08 UTC), Europe (green 08-14), US (red 14-00).
Flow Analysis
A textbook absorption day. Sellers hit the bid aggressively (correlation between cumulative flow and price: -0.76), but price still climbed +2.04%. The buying was passive — limit orders soaking up the supply.
Large players were on the wrong side — or the patient side. 17 bars of outsized trade sizes (peak 6.9σ) showed net buying, but price moved against them. Either they were accumulating into weakness or got caught.
Day 4 of unbroken net selling. The market had a directional lean and wasn't letting go.
Cumulative buying pressure (purple, left axis) vs cumulative price return (yellow, right axis). When these diverge, flow and price are telling different stories.
Session Breakdown
Breaking it down by session: Asia -1.59%, Europe +2.89%, US +0.78%. Europe stood out.
| Session | Hours (UTC) | Return | Net Flow | Flow Share |
|---|---|---|---|---|
| Asia | 00:00 - 08:00 | -1.59% | -1035 BTC | 40% |
| Europe | 08:00 - 14:00 | 2.89% | -430 BTC | 17% |
| US | 14:00 - 00:00 | 0.78% | -1107 BTC | 43% |
Per-minute volume split by aggressor side. Green = actively bought at the asking price. Red = actively sold at the bid price.
Regime Context
Day 2 of a fresh bear regime. The market had just flipped from chop, and the new character was still establishing itself.
Related Days
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