📊 BTC WYCKOFF ANALYSIS | UTAD ON WEEKLY TIMEFRAME
Price is still trading within the same range seen on April 18. The Wyckoff distribution structure now appears to be approaching completion, with a potential UTAD (Upthrust After Distribution) forming on the Weekly timeframe.
🔻 What to Watch Next?
If this UTAD is valid, BTC should decisively break down below the ICE zone, confirming weakness and increasing the probability of further downside.
A confirmed breakdown followed by a retest could open the door for a potential move toward the $28K target zone.
⚠️ Short Entry Perspective:
The ideal short entry was the UTAD retest. That entry opportunity has already passed.
Entering a fresh short position at current levels could be risky, as price may first retest the breakdown area or produce a temporary relief bounce.
📉 My Approach:
- Watch for a decisive breakdown below the ICE zone.
- Wait for confirmation and a potential retest.
- Keep the $28K zone in focus if bearish continuation is confirmed.
- Avoid chasing shorts after the move has already started.
The structure is bearish, but confirmation is everything. Patience over FOMO.
Educational analysis only. Not financial advice. Trade with proper risk management.
