BTCUSD, 12k or 9.6k, volume profile and the bad news bears
Volume profile on INDEX:BTCUSD on monthly chart after cycle up in 2019
The high volume cluster at the bottom is obvious. The POC for the whole profile up to the current price today is in the 9.2k range.
The edge of the high volume cluster is around 12k.
There's plenty of liquidity gaps (fair value gaps, FVGs, whatever you like to call them) between here and there.
Those gaps tend to get filled as supply and demand tends to equilibrium, as we're seeing now and profiting from.
Shorters of the world, unite!
Set your leverage right, TP at 12k, watch for a bounce, then long as we come back up to fill in the gaps some more.
The high volume cluster at the bottom is obvious. The POC for the whole profile up to the current price today is in the 9.2k range.
The edge of the high volume cluster is around 12k.
There's plenty of liquidity gaps (fair value gaps, FVGs, whatever you like to call them) between here and there.
Those gaps tend to get filled as supply and demand tends to equilibrium, as we're seeing now and profiting from.
Shorters of the world, unite!
Set your leverage right, TP at 12k, watch for a bounce, then long as we come back up to fill in the gaps some more.