Volume Trend Analysis BTCUSD 4% Move Using Volume Trend Advisor

After a long move up (4.1%) from the 6424 strength indication on the Volume Trend Advisor (Strength Green Square) to the exit Weakness indicated at 6681, we ran into some chop after some climax activity volume and price wise which we avoid. A weakness indication was last signaled at the 6755 level (Red square on the Volume Trend Advisor), however based on traditional volume analysis and the sideways action currently, we're waiting until later this evening unless something happens sooner. Expect to see support and stalling at the 6877 level and if that breaks further down to 6640 (Where the climax bar closed)

The Volume Trend Advisor (The red and green indications on my chart) indicates in real-time and cannot repaint as it uses closed price and volume analysis to determine likely changes in direction/trend. The Green icon = Strength and the Red icon = Weakness. If you have any questions regarding this fairly simple and accurate method of volume analysis, please contact us directly via PM here or via our website.

Comment:

The support level listed in the text above was a typo. Support is at 6677 (Not 6877) sorry about that and thanks to those that messaged privately me for clarification.

Trade closed: target reached