#BTC Update

Bitcoin started the day with an SFP above the AVWAP at 106.9k, however it was able to hold the Monday EQ at 105.4k as support - which is also the VAL of the Monday range. With 15 minutes to go until the 30min candle close, BTC is above the Monday VAH and the Monday High, and is just below the AVWAP at 106.9k.

If BTC flips 106.9k into support, the next targets are 109.3k and 111.4k.

On the HTF, there is a confluence of the AVWAP from the April low and the POC of the 100k+ range at 109.3k.

There is also a confluence of the second area with most volume with the AVWAP from the ATH at 111.4k.

Also, the 21W EMA is at 110.5k, Monday Range -1.618 extension is at 110,750.

The VAL of the range is at 102,850 - in confluence with the 50W SMA.

Going back to the LTF, there are 2 areas of interest as support.

1⃣ The golden pocket of the range in confluence with the AVWAP - at 105k.

2⃣ The confluence of the Monday Range Extension, previous week's high volume area, and the AVWAP from last friday's low - between 103,580 and 103,830.

However, as long as Bitcoin stays above the EQ/VAL of the Monday range at 105,4k, these levels will not be visited soon.

The 3-day liquidity is almost completely swept. The liquidation heatmap is rather empty. However on the 2-week heatmap, we can see that the main liquidation area is between 112k and 112.5k.

SUMMARY

My plan is to keep my long position until the 111k-112k area and take a large chunk of profit there.

The upper Monday extension has already been tapped and if you made it count, you should have already took at least 50% off at 105.5k - just above the EQ.

When BTC re-visits the same area, it will most likely not work as a resistance anymore.

I would wait for 111k but if you are good at scalping, you can also try the 109.3k area as it will likely work as a resistance level.

However, I would wait for 111k-112k area to take profits and maybe go short.

If you want to go long, I advise you to wait for the lower Monday Range extension at 103.6-103.8k. If BTC doesn't re-visit that level, well, that's too bad, but at least you don't lose anything. You just miss an opportunity but crypto is full of opportunities.