BTCUSD : Wyckoff Distribution and Elliott Wave Analysis

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- The BTCUSD 4-hour chart suggests a potential **bearish reversal**, indicating the market may have reached a peak.

- **Wyckoff Distribution** highlights key phases: **Preliminary Supply (PSY)**, **Buying Climax (BC)**, and a **UTAD** (Upthrust After Distribution), signalling market exhaustion.

- Elliott Wave analysis shows Bitcoin completing **Wave 5**, entering an **ABC correction** phase.

- Key **support and resistance zones** include **$58,684** as a strong Fibonacci support and **$64,297** as a major resistance.

- Institutional **Order Flow** dynamics show accumulation between **$52,000 - $56,000**, with the next downside target at **$52,568**.

Advice for Investors/Traders :

- Monitor Fibonacci levels and institutional order flow for potential bounces.

- Be cautious of further bearish moves if key support zones are broken.

Conclusion :

A **bearish bias** is evident, with potential downward movement towards key levels, but short-term bounces may occur near **$58,684**.