Bitcoin / TetherUSShort
Bitcoin Wyckoff Distribution & CME Gap Analysis
This chart illustrates a potential Wyckoff Distribution Event, signaling a bearish reversal pattern. The rounded top formation suggests distribution at higher levels, with multiple LPSY (Last Point of Supply) indicating selling pressure.
Key takeaways:
Upthrust (UT) in Phase B marked as a key rejection zone.
While people are watching the green lines, i believe that we get one last shakeout.
CME Gap at ~78K has a 69% probability of being filled, acting as a potential target.
The overall structure suggests that Bitcoin could experience further markdown phases unless a strong bullish reclaim occurs. Traders should monitor support levels around 94K and 78K while considering potential short setups.
Stay safe fam!
Key takeaways:
Upthrust (UT) in Phase B marked as a key rejection zone.
While people are watching the green lines, i believe that we get one last shakeout.
CME Gap at ~78K has a 69% probability of being filled, acting as a potential target.
The overall structure suggests that Bitcoin could experience further markdown phases unless a strong bullish reclaim occurs. Traders should monitor support levels around 94K and 78K while considering potential short setups.
Stay safe fam!
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.