BTC spot CVD chart at 12:00 a.m. UTC on Sept. 10

Spot CVD is an order-book analysis chart for the BTC/USDT spot trading pair. The upper panel shows a volume heatmap, while the lower panel shows cumulative volume delta, or CVD. - The volume heatmap in the upper panel tracks trading volume by price range. The background color becomes brighter when the price stays in a specific range for an extended period or moves sharply. Areas closer to brighter colors may act as support or resistance. - The cumulative volume delta indicator in the lower panel reflects buy and sell orders by order size. As buy orders increase, the line in the corresponding color moves higher. The yellow line is based on orders of $100 to $1,000, while the brown line is based on large orders of $1 million to $10 million, among others.