🚨 Bitcoin Wyckoff Warning – $95K Target Looms as “Ugly” Candle Stalls Breakout 🚨

📉 Market Overview

Bitcoin’s bullish momentum is showing cracks as technical signals point to potential downside. Wyckoff analysis suggests that BTC could be entering a distribution phase, putting the critical $100,000 support level at risk.

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🔍 Key Highlights

1️⃣ Wyckoff Analysis Points to $95K Zone

Analyst ZAYK Charts warns Bitcoin may have completed its Mark-Up phase and is now in Distribution.

Sideways price action with weakening momentum and bearish RSI divergence supports this outlook.

If confirmed, the next stage could be a Mark-Down phase, targeting $92K–$95K, a zone that has acted as both strong support and resistance since November 2024.

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2️⃣ Failed Breakout Above $122K

This week’s push past $122K ended abruptly in rejection.

Trader Mikybull Crypto labeled the move “ugly” as BTC slipped back into its prior range.

Altcoins may temporarily benefit from Bitcoin’s consolidation.

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3️⃣ CME Gap at $117K in Focus

Daan Crypto Trades highlights a nearby CME Futures gap at $117K, aligning with the 4H 200MA/EMA.

A quick wick into this zone could offer long entry opportunities on strong altcoins.

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4️⃣ Macro Catalysts – CPI Report Ahead

The U.S. Consumer Price Index (CPI) for July is set for release, with traders bracing for volatility.

Any outlier result could sharply impact crypto and other risk assets.

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📊 Technical Outlook – BTC/USDT

Current Price: $118,621

Key Support: $100,000 → $95,000 → $92,000

Resistance Levels: $122,000 → $125,500

Trend Bias: Neutral-to-Bearish short term; bullish long term if $100K holds.

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📌 Takeaway

Bitcoin’s short-term outlook has shifted from bullish euphoria to cautious watch mode. Wyckoff signals, bearish divergences, and macro uncertainty are all converging. Traders should closely monitor $117K–$95K for potential buying zones, but be prepared for heightened volatility in the days ahead.

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