CrackingCryptocurrency

Bitcoin - Volume Profile Fixed Range Analysis & Seasonality

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Volume Profile Fixed Range Analysis

Takeaways:

1. The previous dominant trend direction moving into the beginning of the year can help in determining the direction of that year's trend.

2. Consolidation (range) occurs at High Volume Nodes and can determine the direction of the emerging trend.

3. Price has largely Distributed throughout 2018 the Accumulation of 2016/17.

4. Price has yet to Distribute the Accumulation of 2019. This is evidenced by the violent rejection from Accumulation in 2020.

5. Price is currently in an uptrend entering an HVN . Likelihood of re-accumulation and continuation of the uptrend.

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