Bitcoin and the Volume profile indicator, very bearish.

Looking at the volume profile indictor we can clearly see
the largest support area bitcoin has is between
$400 and $500.

Now I am not calling for this region
to be tested 100% but I think it is interesting to remember
that traditionally this is the price bitcoin has been traded
at.

According to volume profile there is essentially zero support
way up here in bubble land where we currently operate.

Once again, just something to be AWARE of.

Below I am posting a link to the trading view wiki on volume profile for those of you who may not know what it is

www.tradingview.com/wiki/Volume_Profile

As you can see, we are currently trading in a low volume area with all the high volume nodes and POC much further below (not much support in this area).

Thank you for reading, please leave any questions or comments you may have in the comments section below or feel free to PM me.

Red Boar

Comment:

Zoomed in look at volume profile since the start of the bull run!

Comment:

Upper trend line held as resistance again, seems to be accurate thus far, will keep watching

Comment:

Guys it's so easy to make money just short the ponzi!

Comment:

This chart and it's meme line held up pretty well...amazing actually!

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500 USD inbound boys and girls