Bitcoin and strong S/R zone 💪
Hello guys,
I had some requests to do a Bitcoin analysis using Volume Profile so here we go!
Volume Profile Analysis
If you look into the strong rejection of lower prices the BTC made using Volume Profile, then you will see that there were quite heavy volumes traded right before the huge opening gap.
Those volumes should now work as a strong support. Strong buyers who invested there in BTC will want to defend this area!
That’s why the price should react to this heavy volume zone when the price reaches here at some point in the future.
The cool thing about all this is the confluence of the two trading setups. Strong buyers setup and the Volume Profile setup. Together, both setups point to a strong support around 17080.
I hope you guys liked the analysis. Let me know what you thing of it and of Bitcoin in the comments below!
Happy trading!
-Dale
I had some requests to do a Bitcoin analysis using Volume Profile so here we go!
Volume Profile Analysis
If you look into the strong rejection of lower prices the BTC made using Volume Profile, then you will see that there were quite heavy volumes traded right before the huge opening gap.
Those volumes should now work as a strong support. Strong buyers who invested there in BTC will want to defend this area!
That’s why the price should react to this heavy volume zone when the price reaches here at some point in the future.
The cool thing about all this is the confluence of the two trading setups. Strong buyers setup and the Volume Profile setup. Together, both setups point to a strong support around 17080.
I hope you guys liked the analysis. Let me know what you thing of it and of Bitcoin in the comments below!
Happy trading!
-Dale
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💬 Have questions?
contact@trader-dale.com
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