BTC: Potential Short-Term Distribution

Things are looking a bit supply-dominant for BTC after failing to rally above range support. Volume metrics have been showing decisive selling power for a few weeks now, with a marked UTAD and a series of subsequent last points of supply following the price action back down to TRS, where it currently hugs with more demand rejection wicks.

Nothing is 100% in crypto. But if I had to take a guess based of fundamental VSA-Wyckoff analysis, I'd say there's a good chance of a sell-off in the books. Fibonacci retracements provided in the event of a markdown. Good luck to everyone.