After consolidating since Mar-23, price action has now started to move down. This means the bears have been able to push the price down.
Using volume profile analysis, we can judge potentially the significant levels where support and price can bounce from.
The first support area is around the 22613 - 23500 level where there is a high volume profile node. This is a level where a lot people were trading. Failing this level, the next support is around the 20000 level.
Using volume profile analysis, we can judge potentially the significant levels where support and price can bounce from.
The first support area is around the 22613 - 23500 level where there is a high volume profile node. This is a level where a lot people were trading. Failing this level, the next support is around the 20000 level.