Bitcoin – local redistribution!

Hi all!

Last time we talked about the S&P500, the current bear market is not a real bear market – it’s just a correction. I’m waiting for the last downward leg before the bullish trend. Today I found a very interesting constellation that predicts this part of the way down.

Let’s look at the 1-hour timeframe of the BTCUSDT chart of the WhiteBit exchange. Here we see a pattern of potential redistribution. All Wyckoff events coincide with the textbook, but the main feature of the redistribution is UTAD – a false breakout of the trading range. Now there is LPSY – a test of the high band of the structure. If we see a rejection from this level, then the scenario on the chart is relevant.

Best regards, Ivan