BTC Overbought Distribution & Volume Spread Analysis

This is an expansion on my previous Wyckoff distributional schematic. On this chart I've highlighted the regression trend, starting at the top of the UTAD and following the waves down to the second LPSY re-distributional consolidation. At the top of the macro trend are overbought areas where the MMs are dropping supply to strangle the army of weak-handed retail longs. If this schematic plays out, this LPSY (#2) should mitigate the PSY point in the last markup before the price drops out of the present trading range and freefalls down to the lower Fibonacci retracements.

The VSA reads support distribution as well. Intra-range we saw clear supply predominance, with the systematic shrinking of demand as the TR consolidated. Now, in the regression trend, the volume is again confirming the bearish bias with expanding supply in the pullbacks and diminishing demand in the upthrusts.

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