BTC spot CVD chart at 9:00 a.m. UTC on Nov. 12

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 shows cumulative volume delta, or CVD. - The upper volume heatmap tracks trading volume at each price level, and the background color becomes brighter when the price stays within a specific range for an extended period or makes a large move. Brighter areas may act as support or resistance. - The lower CVD indicator reflects buy and sell orders by order size, with each colored line rising as buy orders increase for that segment. The yellow line represents $100 to $1,000 orders, while the brown line is based on large orders worth $1 million to $10 million, among other categories.