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BTC Very low volume in US$8000-range

BITSTAMP:BTCUSD   Bitcoin / Dollar
Plotting the VPVR ( Volume Profile ) indicator along the right edge of the chart on the current BITFINEX:BTCUSD             drop suggests a range of very low historical trade volume between $9000 and $8200.

For a stock, this would often mean that the price will drop straight through that range as there’s relatively few bids waiting to buy in that area. It will often occur in a range that saw a huge run-up in the past — which is what we see here in BTC             as well when it was on its bull-run in November 2017. So there haven’t been many pricing battles in this area.

BTC             ain’t a stock of course, it’s a currency, and it doesn’t have gap-fills or extended hours trading. Though falling through this range is possible, we have to assume that BTC’s visibility has changed since November, and so the historical interest in this range may have a different character to the traders who are watching BTC             today.
*Update*. So we fell through the entire $8,000–9,000 range in less than ten hours, as suggested.
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Excellent observation! Been looking at that myself. Interesting times.
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