Suggested accumulation zone: $5,910 - $8,630. This is where the bulk of the volumes lies in the past 27 months.
VPVR shows point of control as $6,263 from the rally in September 2017 from mid 3ks until January 2020.
Declining volume implies a breakout in the not so distant future. Above $11,500 there is declining volume.
DYOR.
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A zoomed in view of the VPVR Year-To-Date (past 12 Months, mini bull and mini bear combined). Shows the shorter-term volume control is around $7950, that also lines up as strong horizontal support.
Interestingly enough, Bitstamps VPVR is considerably different from BLX, showing a point of control around $8300, as opposed to $6250 level. This is using the same 27 Month volume data from mid 3K in September 2017.
Given Bitstamp is one of the much older exchanges, to me this implies that ₿ OG's are buying at higher level than exchange averages. Not that the volume difference is far from minor, compared to the BLX volume profile, even if within the same wide range:
Forgot to post update with new VPVR perspective from Bitstamp:
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Coming back to this original VPVR analysis on BLX, we are currently testing the accumulation zone upper support level of $8,630. Volume has stopped declining, but far from notably increased, as well as the volatility, so there is still plenty of room for an increase in both in the coming weeks.
By comparison, looking at the same time-frame (from September 25th 2017) on OG exchange Bitstamp, the point of control is at $8,292:
To put this into perspective, the past 29 months of volume (2 years and 5 months) is concentrated between $7,960 and $8,640.
As anticipated earlier this week, this volume support is close to the confluence of 0.5 fib retracements ($8,462 and $8501), as well as the 21 & 50 Week MA ($8,456 and $8,483):