Analysis of BTCUSD levels of interest; suggested price Vmax zone

19 paź 2021

Bulls will need to see this volume bar at continue to increase in magnitude. Failure to further develop the volume at the current spot price likely suggests pullback potential; pullback potential is limited, perhaps, to the next lowest volume profile peak circa ~56,965 USD. Notice, the 54,391.69 to 49,244.89 has notably low development on the volume profile; this low magnitude suggests that in the event of a pullback, price action will move with high velocity through this area. Peak velocity of price movement is expected to hit a Vmax at 52,630.94. However, this is better considered a price level of high importance, as it could easily also become a new support level, where buyers seek to buy BTC at a "discount," or, in stark contrast, breakdown into this level could potentially lead to a drawdown/correction - only time can tell. No recommendations. Not trade advice.