Is there a correlation between the VPVR indicator on TradingView and the price movements of popular cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  Yes, the VPVR indicator on TradingView can provide valuable insights into the price movements of popular cryptocurrencies. The VPVR indicator, also known as Volume Profile Visible Range, displays the volume traded at different price levels. By analyzing the volume profile, traders can identify areas of high trading activity and potential support or resistance levels. This information can be used to make informed trading decisions and predict future price movements. However, it's important to note that the VPVR indicator is just one tool among many, and should be used in conjunction with other technical analysis indicators and market research.
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• Dec 17, 2021 · 3 years ago
  Absolutely! The VPVR indicator on TradingView is a powerful tool for analyzing the price movements of popular cryptocurrencies. By visualizing the volume traded at different price levels, traders can identify key support and resistance levels, as well as areas of high trading activity. This can help in predicting potential price reversals or breakouts. However, it's important to remember that no indicator can guarantee accurate predictions, and it's always advisable to conduct thorough research and analysis before making any trading decisions.
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• Dec 17, 2021 · 3 years ago
  Yes, the VPVR indicator on TradingView can be a useful tool for analyzing the price movements of popular cryptocurrencies. At BYDFi, we have observed a correlation between the VPVR indicator and the price movements of various cryptocurrencies. The VPVR indicator helps traders identify areas of high trading activity and potential support or resistance levels, which can be used to make more informed trading decisions. However, it's important to note that the VPVR indicator should not be used in isolation and should be combined with other technical analysis tools and market research for a comprehensive trading strategy.
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