$BTC - Did we just experience UTAD?

I know we’ve been hearing about it for months now, but with the way that the 8hr chart on BTC is playing out, I personally needed to take a deeper look into Wyckoff and the possibilities that the current uptrend we’ve been experiencing was part of a redistribution schematic and if we had just experienced an upthrust after distribution (UTAD)


A few points worth mentioning:
- Our supports on the way down lend VERY well to the detailed “Schematic 0” of the Wyckoff redistribution schematics.
- May to June shows a great distribution pattern with the big possible rise that could be our “Upthrust”
- Sign of weakness stage aligns with the lower end of our May - June supports
- The move would align closely with a full 1.618 retracement from the top of the UTAD up channel.
- The final portion of Redistribution Schematic 0 plays very nicely with the Fibonacci locations within the upper portion of the down channel.



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