germy

BTCUSD volume profile comparison, 2017-2019

Long
BITSTAMP:BTCUSD   Bitcoin
This chart displays Bitstamp BTCUSD volume profile split between the 2017 and 2019 price range of approximately 3700 - 4300. Notice the seemingly inverse relationship between high and low volume nodes between the two periods (bull vs bear). Volume profile analysis is an effective way to estimate horizontal support and resistance levels, and, with knowledge of market momentum, it can help predict price movements. My interpretation leads me to believe that if BTCUSD breaks out above 4300 with momentum, significant upside can be expected, perhaps as high as 6500.
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