Wyckoff Distribution Unfolding: UTAD Confirmed, LPSY In Progress
The 4H BTC/USDT chart presents a textbook Wyckoff Distribution structure nearing completion:
• Buying Climax (BC) defined the supply ceiling
• Secondary Test (ST) confirmed resistance zone
• Upthrust After Distribution (UTAD) swept above 106K, trapping late breakout buyers
• Price is now back at triangle support, potentially forming Last Point of Supply (LPSY)
Technical Snapshot (4H):
• Current Price: 102,540
• Bollinger Bands:
▸ Upper: 105,400
▸ Basis: 103,522
▸ Lower: 101,884
• 55 SMA: 103,642
• RSI: 44.85 (bearish momentum)
• Volume: Red bars rising, above 23.7K MA
What to Watch For:
A confirmed close below the triangle apex and lower Bollinger Band, with RSI below 45 and increased volume, would solidify the LPSY and trigger a likely markdown phase. Until then, the structure remains vulnerable but unconfirmed.
Bearish Targets (if breakdown confirms):
• TP1: 100,678 (horizontal + psychological)
• TP2: 99,595–98,115 (Fib retracement zone)
• TP3: Trail below breakdown with 1% callback logic
Wyckoff Perspective:
This appears to be Phase C, following a clear UTAD. If LPSY forms and support breaks, the market transitions into Phase D with accelerated markdown potential. Holding here may imply range extension or reaccumulation — next 1–2 candles are pivotal.
• Buying Climax (BC) defined the supply ceiling
• Secondary Test (ST) confirmed resistance zone
• Upthrust After Distribution (UTAD) swept above 106K, trapping late breakout buyers
• Price is now back at triangle support, potentially forming Last Point of Supply (LPSY)
Technical Snapshot (4H):
• Current Price: 102,540
• Bollinger Bands:
▸ Upper: 105,400
▸ Basis: 103,522
▸ Lower: 101,884
• 55 SMA: 103,642
• RSI: 44.85 (bearish momentum)
• Volume: Red bars rising, above 23.7K MA
What to Watch For:
A confirmed close below the triangle apex and lower Bollinger Band, with RSI below 45 and increased volume, would solidify the LPSY and trigger a likely markdown phase. Until then, the structure remains vulnerable but unconfirmed.
Bearish Targets (if breakdown confirms):
• TP1: 100,678 (horizontal + psychological)
• TP2: 99,595–98,115 (Fib retracement zone)
• TP3: Trail below breakdown with 1% callback logic
Wyckoff Perspective:
This appears to be Phase C, following a clear UTAD. If LPSY forms and support breaks, the market transitions into Phase D with accelerated markdown potential. Holding here may imply range extension or reaccumulation — next 1–2 candles are pivotal.
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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.
Protect your Bitcoin investment with our realtime alerts and fully automate your trading. No more sleepless nights, black swans, rug pulls, whale pump & dumps or getting sidelined.
Related publications
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.