This chart is a technical analysis of **Bitcoin (BTC/USD)** on the **4-hour timeframe** from Binance, illustrating **Wyckoff Market Cycle Phases** applied to recent price action.
### 🧠 Chart Description:
The chart identifies and labels key **Wyckoff phases**:
* **Accumulation (April)**: Price consolidates in a range after a downtrend. This phase marks strong hands accumulating Bitcoin from weak hands.
* **Reaccumulation (late April to early May)**: A bullish continuation pattern where the price pauses temporarily before resuming the uptrend.
* **Distribution (mid-May)**: The price enters another consolidation phase, but this time smart money begins offloading holdings at elevated prices to retail traders.
### 📉 Projected Move:
* A breakdown below the current support is anticipated, leading to a **markdown phase**.
* The red path suggests a significant decline, potentially toward the **\$85,000–\$90,000 range**, indicating bearish momentum.
* After the markdown, **accumulation is expected to resume**, setting the stage for the next potential markup.
### 📊 Supporting Visual:
On the right side, there's a reference schematic titled **“Market Phases” by Readtheticker.com**, which summarizes:
* Accumulation → Markup → Distribution → Markdown → Accumulation cycle.
* It also highlights buying/selling pressure dynamics and behavioral patterns at each phase.
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### 🧠 Chart Description:
The chart identifies and labels key **Wyckoff phases**:
* **Accumulation (April)**: Price consolidates in a range after a downtrend. This phase marks strong hands accumulating Bitcoin from weak hands.
* **Reaccumulation (late April to early May)**: A bullish continuation pattern where the price pauses temporarily before resuming the uptrend.
* **Distribution (mid-May)**: The price enters another consolidation phase, but this time smart money begins offloading holdings at elevated prices to retail traders.
### 📉 Projected Move:
* A breakdown below the current support is anticipated, leading to a **markdown phase**.
* The red path suggests a significant decline, potentially toward the **\$85,000–\$90,000 range**, indicating bearish momentum.
* After the markdown, **accumulation is expected to resume**, setting the stage for the next potential markup.
### 📊 Supporting Visual:
On the right side, there's a reference schematic titled **“Market Phases” by Readtheticker.com**, which summarizes:
* Accumulation → Markup → Distribution → Markdown → Accumulation cycle.
* It also highlights buying/selling pressure dynamics and behavioral patterns at each phase.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.