Bitcoin most important support zones (October 2021)
Looking at volume profile in Bitcoin-USDT (at Binance SPOT) during the October uptrend now the price has moved away from these highlighted areas it reveal us the most important support zones where the big institutions have accumulated their long positions.
Most important supports zones I see are:
- 54500 - 55300: this is the most important high volume node (HVN) during the October 2021 uptrend.
- 47500 - 48100: this is the second heaviest HVN.
- 42300 - 43300: Accumulation zone between rally from 42k to 62k
Smaller but still strong areas are:
- 57000 - 57500: smaller HVN but price gained steam to run to +60k in this area. I'm expecting this zone might act as temporary support.
- There are some fight in the area between 60700 to 62300. I cannot trust this area to become an strong support yet because we're still very close to it (64300 right now) and very close to ATH. However, if we see BTC rising strong above 70k we can consider this area as the first valid support zone after that happens.
Hope this is useful to you.
Happy trading!
Rod
Most important supports zones I see are:
- 54500 - 55300: this is the most important high volume node (HVN) during the October 2021 uptrend.
- 47500 - 48100: this is the second heaviest HVN.
- 42300 - 43300: Accumulation zone between rally from 42k to 62k
Smaller but still strong areas are:
- 57000 - 57500: smaller HVN but price gained steam to run to +60k in this area. I'm expecting this zone might act as temporary support.
- There are some fight in the area between 60700 to 62300. I cannot trust this area to become an strong support yet because we're still very close to it (64300 right now) and very close to ATH. However, if we see BTC rising strong above 70k we can consider this area as the first valid support zone after that happens.
Hope this is useful to you.
Happy trading!
Rod
