- Volume bars with 500% increase of volume. - 15 minute timeframe BTCUSD. - Baseline of the last 10 volume bars averaged against the current volume bar.
Since 21st July 2021 there has been 51 occasions were there has been a 500% increase in volume.
47 of these (500% volumes) has seen price retrace/recover that price action area.
Out of the 4 that are left 1 is below current price action with a price range of 29925 to 30525.
This is not a trading call but more of an observation of reviewing past price recovery of volume bars that are equal to or exceed 500%.