$BTC update 23/08/2026 - 3D Timeframe BTC/USDT — Wyckoff read on the current structure Bitcoin just printed a sharp break above 77k on a volume spike after four months of chop between 58k and 66k. Zooming out, this fits a full Wyckoff cycle: 126,199 was the top — classic UTAD, price pushed past the old high, couldn't hold, sellers took over. The drop that followed wasn't a straight line down. It bounced at 97k, failed, then gave way hard into a selling climax at 57,800. From there: an automatic rally to 84.5k, then a secondary test back down near 61k that held above the SC low. That's the range — 58k to 85k — quietly building cause since March. The move today is the Sign of Strength. Volume confirms it, and price closed above the 99MA (75.8k) for the first time since early this year. What I'm watching next: → A pullback toward 70-72k on lighter volume (Last Point of Support) — confirms the SOS was real → A close above 84.5k — that's the range high, clears the structure → A drop back under 65k invalidates this and puts distribution back on the table Wyckoff reads price and volume, not certainty. Treat this as a framework, not a signal. #BTC #Wyckoff #TechnicalAnalysis. Not finance advice. DYOR
$BTC just filled its Wyckoff count and almost nobody is saying it out loud.
Jun 25: selling climax at 58,115 on 7.8x median volume. Jul 1: price undercut it to 57,800 on LESS volume than the climax itself. That is a spring, not a breakdown. Jul 2 - Aug 16: six weeks of rising lows (61,306 / 62,272 / 62,466 / 62,716) while volume died. Aug 16 printed 0.3x median, the quietest day in two months. Absorption finishing. Aug 19: +8% through the creek on 2x volume. Aug 21: 79,500 high on 3.1x volume, closed 1,160 off the high.
The range was 9,156 wide. Project it twice off the low: 76,112. We are at 78,680. The cause is spent.
What keeps me constructive anyway: perp premium never flipped positive through the entire 21% move, still sitting near -0.03%. A rip that size with futures at a discount to spot is spot demand, not leverage chasing.
Watching 69,335, the SOS close. Hold it and this is re-accumulation at a higher shelf. Lose it on a 4H close and the jump across the creek failed. The real creek is 66,956.
Backup at the 73k shelf, or all the way down to the creek?