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this chart means..
tldr: BTC broke below 117,800 and is now in the 114,000–116,000 zone. If it can’t get back above 117,800 soon, it could drop toward 114,000 or even 111,850.
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Volume Profile:
This chart shows where the most BTC trading has happened recently.
Big trading zones are:
- Around 120,950: upper range, now acting as resistance
- 117,300–117,800: recent main area, now resistance)
- 111,850: lower range, acting as support
Trend & Structure:
BTC was holding above 117,800 for a while, but then it dropped and is now trading in a lower range. Since the price is below the recent high-volume area, sellers currently have the advantage.
h/t @elfa_ai
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