BTC spot CVD chart at 11:30 a.m. UTC on Sept. 19

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 at each price level. The background color becomes brighter when the price stays in a specific range for longer or moves sharply. Brighter areas may act as support or resistance levels. - The cumulative volume delta indicator shows buy and sell orders by order size. As buy orders increase, the line for the corresponding color rises. The yellow line reflects orders worth $100 to $1,000, while the brown line reflects large orders worth $1 million to $10 million, among other categories.