The Power of ExxaBlock Crypto Daily Report — Part 1

Spot Benchmark Prices Chart with Trade Volume Histogram

Found on Page 2 and 3 of ExxaBlock & BitBoy Daily Crypto Report is a powerful chart for BTC and ETH. We are going to go discuss this chart so our users of this report can gain the most value possible when using it.

1. We start with a 5 Minute VWAP (Volume Weighted Average Price) and TWAP (Time Weighted Average Price) to cut out oddities in the price.
2. The Black Histogram layered behind the chart shows the Traded Coin Volume for the last 7 days.

These two metrice paired together can be very valuable to a intraday trader for finding key price levels that show support and resistance levels. On Page 4 we can then go and find the actual top 5 highest trade coin volumes for BTC.

For this example we will look at the highest traded price level. At $57,000, 275.151650 BTC were traded. The red arrow points to this level. In the zoomed in bubble I placed, we can see initially the price point of $57,000 served as a resistance level.

If we looked at the order book last night we would have seen a large amount of traders offering to sell BTC via a limit order sitting at this point. People saying, “I want to sell X amount of BTC at $57,000”. Despite buying pressure, pushing the price up, this price level broke through and was quickly pushed back down below $57,000. A resistance level has been set.

To further this point, In the chart below I zoomed in on the next 24 hour period on the day of March 11th. We see that $57,000 acted as a resistance. Then before market open in the USA around 8:00 AM EST the resistance breaks and turns into a support level. The Price bounces off $57,000 and moves higher.

Support and Resistance are great tools for analysing where a price of a security may go. Actively traded price levels can act as an indication of collective demand for a security at a specific price. The collection of these past price levels can help indicate where masses of traders look to take profit or to purchase for further growth.

In an effort to educate and build this daily report to be of most use to customers we are going too continue to go through the report chart by chart. Data can be a powerful tool, when used and understood properly. ExxaBlock is looking to help our community grow and gain deeper insight into Cryptocurrency Market Data. If you have immediate questions, join us on our telegram (https://t.me/exxablock).