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!