Bitcoin: Wyckoff Distribution Eyes $95K, RSI Divergence
Bitcoin price is showing signs of stalling as Wyckoff distribution patterns emerge, suggesting large holders may be offloading positions. A failed breakout above $122,000 and bearish RSI divergence point to weakening momentum. Key support lies between $92,000 and $95,000; a breach could trigger a deeper markdown phase targeting that zone. Traders will also monitor the $117,000–$117,500 CME futures gap, the 4H 200MA/EMA confluence, and the upcoming U.S. CPI data for volatility catalysts. Risk management is crucial: set stop-loss orders near support and view any dips as potential long-term buying opportunities. Altcoin rotation plans may be valuable if distribution confirms.
Bearish
The combined analysis highlights multiple bearish indicators for Bitcoin. Wyckoff distribution patterns and a failed breakout above $122,000 signal that large holders may be unloading positions. Bearish RSI divergence further confirms weakening momentum. Critical support between $92,000 and $95,000 is at risk of being broken, which could trigger a markdown phase. Short-term traders may see downward pressure as opportunity to open short positions, while long-term investors should employ stop-loss orders and consider dips as buying windows. The CME futures gap and U.S. CPI data add potential volatility, reinforcing a cautious, bearish outlook until support holds.