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What's the Bitcoin Order Book Saying? A Plain-English Read for May 11 Good morning. If you have ever opened a Bitcoin chart and felt your eyes glaze over, this one is for you.
Traders watch two tools to figure out where buyers and sellers are clustering. Both told a clear story at the start of May 11. Here is the gist, without the jargon. The first tool is called a Volume Heatmap.
Think of it as a weather map for trading. The brighter the color at a certain price, the more buying and selling has piled up there. Those bright zones tend to act like floors and ceilings.
Prices bounce off them or stall against them. As of midnight UTC on May 11, the heatmap was glowing right near where Bitcoin was already trading.
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