$BTC Update

After yesterday's aggressive breakdown through the VWAP stack, BTC found support just above the prior month VWAP (104028) and is now rebounding into the first key cluster of resistance.

Current structure:

– Breakdown confirmed by clean rejection at the 7D + 30D VWAPs

– First bounce low found at the pMonth VWAP + dMonth VAL

– Price currently consolidating between dWeek VWAP (104526) and pMonth VWAP (104028)

– Volume profile shows strong selling pressure on the move lower, bounce so far on declining volume

Key levels:

– Rejection zone: 104526–105000 (dWeek VWAP + underside of broken stack)

– Support zone: 104000–103600 (pMonth VWAP + dMonth VAL)

– Lower target on breakdown: 101840/101055 (pWeek VAL/pQuarter VAH)

Scenarios:

SHORT:

If price fails to reclaim dWeek VWAP and consolidates below 104500, expect another leg down towards 103600 and possibly 101800.

LONG:

Reclaim of 105000 and acceptance above broken VWAP stack would trap shorts and open path to retest 106000–107000 zone.