BTC spot CVD chart at 7 p.m. UTC on Sept. 15

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 tracks trading volume by price range. The background color becomes brighter when 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 line for the corresponding color moves higher. The yellow line is based on $100 to $1,000 orders, while the brown line reflects large orders in the $1 million to $10 million range.