BTC/USD Chart Based on Volume Profile
Updated
This is my first public idea and my first time using volume profile (which i am still learning until now).
So please correct me if i made mistake.
The resistance which is on purple line (8391) is placed based on LVN (low volume node), which is also previous high on 15 & 16 April.
If the price goes above the purple line, the price should go higher.
If the price can't go above purple line, the price should go to VA (7887 - 8197).
Stop loss may be placed on red line (7730), which is a little bit below LVN.
Which means if the price goes below red line, it should go down more.
Any comment is really appreciated.
Thank you.
So please correct me if i made mistake.
The resistance which is on purple line (8391) is placed based on LVN (low volume node), which is also previous high on 15 & 16 April.
If the price goes above the purple line, the price should go higher.
If the price can't go above purple line, the price should go to VA (7887 - 8197).
Stop loss may be placed on red line (7730), which is a little bit below LVN.
Which means if the price goes below red line, it should go down more.
Any comment is really appreciated.
Thank you.
Comment
So the price passed LVN in 8308. And the candle seems to "skip" the LVN.I will see further update based on volume profile.
Comment
So price went higher than 8400 which was LVN area, and the price jumps to 8500.New volume profile is made.
This is very interesting.
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