BTC close to key level
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BTC close to key level

This morning we have seen BTCUSD move another leg to the upside, coming all the way up to 56,230. After this, we have seen a tiny pullback and the pair is currently trading at 55,500.

I do think we will see another leg up, and the key level I am looking to short is the same as I highlighted in the post yesterday (57,900). There is however, a possible level before 57,900 that could play out as key resistence. Take a look at the image below and you an image of BTC with volume profile with a long range from the very start of this bull run. As you can see we are above POC, and would as such look for VAH as the next key level. However, do note the high volume node right above us at 56,300

As mentioned above, we did come very close to this level earlier this morning (just 50$ off). What I would like to see is a tiny move above this, and then quickly back down below, with an increase in delta on the drop. If we do see this, it may be a solid spot to give it a go with a short position.