📊 After analyzing Bitcoin $BTC on the daily frame and clarifying the technical data as previously discussed (see the analysis here), I decided to delve deeper and move to the hourly frame to get a more accurate view of the market's momentary movements.

🔍 Through this analysis, I noticed a clear Wyckoff pattern forming—a popular pattern used to detect the final stages of an uptrend before a strong reversal. The previous analysis showed us clear signs of a possible correction, and this hourly pattern reinforces those expectations.

🔸 Theory: As shown in the attached chart, we are now in the late phase B according to the Wyckoff Discharge Theory, which is the phase that precedes the price test in phase C. At this stage, we notice a balance between the forces of supply and demand, which makes the market in a state of waiting for a strong upcoming move.

🔹 Stage A: It was the shakeout stage, which is a stage for attracting liquidity and liquidating leveraged trading positions.

🔹 Phase B: Currently, we are witnessing building buying and selling pressure between the 67,000 and 68,800 levels, reflecting the distribution among traders.

🔹 Stage C: We expect to move to it soon, as we may be facing a price test at current levels, with the possibility of forming UTAD (Upthrust After Distribution) that shows a false rise before the reversal.

🔻 Expected: If we cannot break the 68,800 level with a strong candle on the hourly frame, we are expected to witness a reversal and a decline to the 65,000 and then 62,000 levels as analyzed previously.

⚙️ Basic indication:

If the expected scenario comes true, it means that the market will enter the LPSY (Last Point of Supply) phase, which is the last phase before a strong decline.

📌 Conclusion: Close monitoring of the movement at the 68,800 level will be key to determining the next trend. Make sure to set stop loss orders and make the right decision.

💡 Stay tuned for more analysis to come, as we cover more details on the upcoming market moves based on Wyckoff models and the latest developments.

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