vpvr is only accurate in a regulated market and even then it depends on multiple factors to be accurate
anything from insider trading to just pure whale manipulation can alter any sort of signals it provides
the biggest impact on this market is what is being put into it aside from actual trading
its like how the cost of silver production will always effect the end price far more than speculation
essentially at this point the only way that its possible for btc to drop below the 5-6k range is large portions of the network leaving
and thats not gonna even happen quickly cuz it takes 2 weeks for difficulty to adjust to network hash
which in itself will make even more miner leave until its adjusted which in turn makes difficulty drop even faster
then miners come back cuz its profitable, but only for 2 weeks which begins the spiking of difficulty
which can raise the cost of production above where we are at
for a market that moves this fast even just the 1st 2 weeks miners leave is way too long
also u need to look at how much of the market is actually being traded
how much is on exchanges and even can add in how much is just being transacted
really there is less than 1 million out of 17 million that is moving the rest are staying where they are
which shows exactly how much manipulation of speculative price is going on

If trading volume is so good at predicting support levels then how come btc held above 5800 the last 4 times of asking even though there is no sugnificent support between 6400 and 4300?

First

Tensor Charts is free and has a customisable VPVR without a paywall.

Still use Tradingview for my charting but log in to tensor to check where high/low volume nodes are on the range

Very educational, thank you very much!!!

You can use the 5 ema too. Every turn the 5 ema makes, makes support and/or resistance. Try it out and you’ll be amazed by the dead on accuracy.

Second

Very good thanks Mate.

Thank you for the lesson!