BTC spot CVD chart at 10:00 a.m. UTC on Sept. 23

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