As we expected, Bitcoin tested the $37800-39600 zone. But how could you predict this? You have to use the volume profile.
A volume profile is close to horizontal volumes (bottom panel), but using them, you can indicate: 1. value areas(support and resistance) 2. liquidity gaps
This indicator is easy to apply, it is in the left sidebar in the "Prediction and Measurement Tools". You can use it to indicate the value zones in ANY crypto/stocks/currency.
Why does it work? The volume profile is a real value data and that's why the price reacts to it most of the time. Similarly, you can use the DOM and Footprint in real time to track the value zones and reversal points for price. If you have questions about it, write in comments or to the DM!
Right now we expect an upward move on Bitcoin: 1. The price has started to squeeze under the $41400-42700 value zone, which shows buyer strength. 2. Volumes have also increased. BIG VOLUMES=BIG PLAYERS. 3. Short traders who opened trades on the fall will be the FUEL for the upward movement.
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P.S. Personally, I open an entry if the price shows it according to my strategy. Always do your analysis before making a trade.