Caleb Franzen
Caleb Franzen|Sep 30, 2026 08:19
This is the anchored volume profile for Bitcoin from ATHs. There are three key things to note: 1. The latest peak/pause occurred at the value area high, which makes it a logical "glass ceiling" and resistance spot. 2. Within the value area low/high range, the lowest volume zone is the current trading range, between $80k and $85k. We probably need to produce more volume in this range before getting a continuation breakout. 3. Above the VAH, the two largest volume zones are directly above, which means there is going to be a significant amount of overhead supply there. The recent breakout attempt to $87k tested one of these zones and price has cooled. What does all of this mean? The recent consolidation from $87k to $82k is normal. My belief is that we're in a new bull market, but this latest momentum thrust since mid-August will require digestion. We can debate the depth of that required digestion, and I don't know how deep it will be, but my recommendation to you is to identify the "buy the dip" levels that get you excited, set your limits, and get capital allocated. That's what I'm doing and what I've done. (Tip: add your moving averages on various timeframes, on both daily and weekly candles, and also use the AVWAP.) This also means that the real fireworks for the bull market begin with a breakout above the high volume zone above the VAH, which will require a move above $94.4k. So this is the battleground area, from $75k to $94.4k. A breakout above $94.4k should catalyze a fast move to new all-time highs. Good luck.
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