Volume profile: Bull run will not be soon
Examining the volume profile of bitcoin and comparing it with the previous two cycles shows several issues:
1. Price of control has not been the level of bitcoin support but has created an area around which bitcoin fluctuates (Suppoer area range- accumulation area)
2- Fluctuation around the POC has continued for at least a few weeks
3- VAL 50% has acted as a support level for Bitcoin in this range
A comparison with the current situation shows that Bitcoin now needs to be more consolidated in this price range or further reduced in price. Fluctuations in the current range around the current POC will range from $ 17,000 to $ 22,000.
1. Price of control has not been the level of bitcoin support but has created an area around which bitcoin fluctuates (Suppoer area range- accumulation area)
2- Fluctuation around the POC has continued for at least a few weeks
3- VAL 50% has acted as a support level for Bitcoin in this range
A comparison with the current situation shows that Bitcoin now needs to be more consolidated in this price range or further reduced in price. Fluctuations in the current range around the current POC will range from $ 17,000 to $ 22,000.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.