This chart presents a Wyckoff Distribution pattern on Bitcoin (BTC/USDT), outlining the different phases of market manipulation before a potential markdown.
🔍 Key Elements:
PSY (Preliminary Supply), BC (Buying Climax), AR (Automatic Reaction) – Early signs of distribution.
UT & UTAD (Upthrust & Upthrust After Distribution) – False breakouts trapping late buyers.
LPSY (Last Point of Supply) – Lower highs confirming weakness.
SOW (Sign of Weakness) & Phase D Breakdown – Clear rejection of resistance and price decline.
Support & Resistance Lines – Key levels traders are watching now.
📉 What's Next?
After completing Phase D, BTC is attempting to reclaim lost ground. Will it fail at resistance and continue the markdown, or are we seeing a spring before a major rally?
🔥 Like & comment your thoughts! Are we going lower, or is this a bear trap?
🔍 Key Elements:
PSY (Preliminary Supply), BC (Buying Climax), AR (Automatic Reaction) – Early signs of distribution.
UT & UTAD (Upthrust & Upthrust After Distribution) – False breakouts trapping late buyers.
LPSY (Last Point of Supply) – Lower highs confirming weakness.
SOW (Sign of Weakness) & Phase D Breakdown – Clear rejection of resistance and price decline.
Support & Resistance Lines – Key levels traders are watching now.
📉 What's Next?
After completing Phase D, BTC is attempting to reclaim lost ground. Will it fail at resistance and continue the markdown, or are we seeing a spring before a major rally?
🔥 Like & comment your thoughts! Are we going lower, or is this a bear trap?
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.