Max Profit: VOLUME PROFILE BTCUSDT
2024-11-28

 

 Current State:  On the  BINANCE:BTCUSDT  chart, we observe a corrective movement after breaking the POC (Point of Control), which marks the area of maximum trading volume in the current range. The price tested the support level near 91,000 USDT, where buyers actively stepped in to prevent further decline.

The previously broken ascending trendline now acts as resistance. The price is recovering and approaching the key resistance level at 94,000 USDT.

🔑 Technical Context

  
 POC (Point of Control): The maximum trading volume level is located around 91,400 USDT and serves as a key demand zone.
 Support: A strong demand zone exists between 90,000–91,000 USDT, where significant buying volume was observed.
 Resistance: The area around 94,800 USDT acts as the nearest resistance. A breakout above this level may lead to higher targets.
 

🚩 Trading Strategy

 Potential Scenarios: 

 Bullish Breakout Scenario: 
If the price consolidates above 94,800 USDT, consider long positions with targets:
  
 96,500 USDT
 98,000 USDT
 

 Continuation of Correction: 
If the price fails to break the resistance, expect a retest of the 91,000 USDT support zone. A break below this area could lead to a further drop towards 88,500 USDT.

 Stop-Loss: 

For long positions: below 91,000 USDT.
For short positions: above 94,800 USDT.
📈 Recommendations

  
 Volume Profile:  Monitor volume accumulation near current levels to gauge market sentiment.
 Trendline Resistance:  Consider the role of the broken ascending trendline as a resistance level.
 Risk Management:  Use sensible stop-loss orders to minimize losses in case of adverse movements.
 

 Conclusion 
BTCUSDT is at a key juncture between resistance and support zones. Watch for price action near 94,800 USDT to determine the next directional move.