BTCUSD Analysis Using Volume Trend Analysis and S/R Targets

After some great trade indications recently, we are expecting upward movement to stall out around the 6754 level. If we don't get a weakness indication prior to that (Red Square), we could see a bit of consolidation at that level and as such is a likely exit point based on simple VSR (Volume Based Support and Resistance). We would remain out until we get another clear signal of trend based on activity.

The Volume Trend Advisor (The red and green indications on my chart) indicates in real-time and cannot repaint as it uses closed price and volume analysis to determine likely changes in direction/trend. The Green icon = Strength and the Red icon = Weakness. If you have any questions regarding this fairly simple and accurate method of volume analysis, please contact us directly via PM here or via our website.