Analyze
Use DOM, Time & Sales, footprint and liquidity heatmaps
Read crypto order flow in Basis with the order book, trades, footprint, delta, imbalance, heatmap and absorption context.
The four order-flow surfaces answer different questions
| Surface | Shows | Use it to ask |
|---|---|---|
| DOM | Current bid and ask liquidity by price | Where is visible liquidity resting now? |
| Time & Sales | Executed trades with side and size | Who is crossing the spread? |
| Footprint | Buy/sell volume inside each bar and price row | Where did aggression produce or fail to produce movement? |
| Heatmap | Liquidity intensity through time | Was a level persistent, pulled or consumed? |
Delta is aggression, not guaranteed direction
Positive delta means more volume traded at the ask; negative delta means more traded at the bid. Price can fall on positive delta when passive sellers absorb buyers, and rise on negative delta when passive buyers absorb sells. The divergence is often more informative than the sign.
- Compare delta with price progress.
- Look for repeated imbalance near a pre-defined level.
- Use cumulative delta for a window, not as a universal oscillator.
- Treat exchange trade classification and coverage as part of the result.
Recognize absorption and failed auctions
- 01
Start at a meaningful level
Order flow in the middle of random noise has little decision value.
- 02
Observe aggression
Look for sustained buy or sell imbalance into the level.
- 03
Measure progress
If large aggression creates little price movement, passive liquidity may be absorbing it.
- 04
Wait for confirmation
Require rejection, acceptance or a structure break before planning risk.
Know what the feed cannot show
- One-second and footprint history may be bounded by exact trade coverage.
- A heatmap level can disappear before price reaches it.
- Large prints can be transfers or hedges rather than directional bets.
- Use risk and structure even when the flow looks unusually clear.
Important
Visible order books omit hidden and off-venue liquidity. Orders can be canceled, spoofed or moved. Basis order flow is an observation of covered venues—not a complete map of all market intent.