BTC 12h update - are we in a distribution phase?

If this entire range is a distribution phase, then a push into 125k before a proper correction in Q2/Q3 would fit my expectations. That move would trap breakout buyers before a deeper retrace unfolds.

Very important also, BTC hasn’t closed below 93K on a weekly yet, so there’s still a case for strength if we hold the December lows as support.