BTC spot CVD chart as of 4 p.m. on Aug. 22

Spot CVD is an order book analysis chart for the BTC/USDT spot trading pair. The upper panel shows the volume heatmap, while the lower panel represents cumulative volume delta, or CVD. - The volume heatmap tracks trading volume at each price level. The background becomes brighter when the price stays in a specific range for an extended period or makes a large move. Brighter zones may act as support or resistance. - The cumulative volume delta indicator reflects buy and sell orders by order size. As buy orders increase, the corresponding colored line rises. The yellow line represents orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million.