BTC, a new week, focusing on the monthly timeframe framework. Currently, the price is trading within the pmVAH - pmVWAP range, with the upper and lower boundaries being our key levels for trading.

Over the weekend, the decline left a gap on CME, and the 30-minute level also shows an unfilled nPOC, which leans more towards a continuation of the decline after filling the gap.

The quick drop in the early session reached the 8-week CVAH, where the price is building a consolidation. We can see this as a parallel bottom; if the price consolidates below this level, forming a high point of a consolidation zone, it could be a sign of another drop to clear out long positions taken at the bottom, then recover above the consolidation zone to form an MSB, indicating a long entry!

For short positions, the pwVAH, which coincides with the 30-minute nPOC and CME gap, is a good area to short. If the gap gets filled here, it’s a strong shorting opportunity.