🔥🚩POINT OF CONTROL: THE MOST USEFUL TOOL FOR TREND TRADER

🔥 Hi friends! Point of control is a part of volume profile indicator and very useful tool to identify upcoming BTC or any other asset move. I will explain you how to use this tool in your trading and make a good profit in this idea.

💹 Horizontal Volume Indicator or Volume Profile is a simple indicator that helps to identify: value areas (support or resistance zones), points of control and liquidity gaps.

📊 HOW TO USE POINT OF CONTROL
Point of control (red line on the chart) is the place of the largest accumulation of liquidity. We can say that this is the place of "the biggest battle between bulls and bears":
🔥the point of control becomes a resistance in case of "bears' victory" and crypto start to fall
🔥the point of control becomes a support in case of "bulls' victory and crypto start to grow

🚩 When one of the sides wins the "battle", this is the best time to enter the trade in short or long.

✅ No matter how complicated this tool looks, it is very easy to use:
1. extend the volume profile indicator from the lows to the highs. The indicator automatically shows the largest accumulation of liquidity showing POC (red line).
2. wait until the price tests the POC as support or resistance. From time to time the price can consolidate directly on the POC, which indicates the "battle" of long and short traders.

Pay attention to the chart. I have selected for you 4 cases of using POC on the volume profile:
1. Bitcoin just touched the POC at $39,700 and bounced up 72%.
2. the price tested the POC as resistance at $61,100 after which the price fell by 45% from the absolute highs.
3. Bitcoin consolidated around the POC at $39,000 for some time. The price fell by 31%.
4. POC is at the price of $19,150 per Bitcoin. Now you have to expect the price to return to this level and carefully watch the price reaction on POC.

🔥If the POC is tested as resistance, then it is very likely that we will see the level of $13,000-14,000 for BTC.
🔥If the POC is tested successfully as support, then the price will be able to make higher highs and start a bullish trend for Bitcoin. I talked about this scenario in previous ideas.

🚩 HOW TO ADD VOLUME PROFILE INDICATOR WITH POC TO YOUR CHART?
3 steps to add the indicator to your chart:
1. open "prediction and measurement tools" at the left part of chart
2. choose the "Fixed Range Volume Profile"
3. choose the price range from some date till another date.

So now you can see all important value areas and point of control.

✅ Point of control help you to identify the power of bulls or bears on different timeframes and make the right trading decision in the most of cases. Personally, I use this tool effectively for swing trading and scalping as well.

Traders, do use this indicator and such tools as POC in your trading? What is your favorite idicator for trading? Let me know in the comments.

💻Friends, press the "boost"🚀 button, write comments and share with your friends - it will be the best THANK YOU.

P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.