Wyckoff and Fibonacci analysis of your provided BTC/USDT chart:

1. Wyckoff Analysis

Phase Identification:

Distribution Phase:
BTC peaked around $109,700 in early 2025, followed by a sharp decline — likely the Distribution Phase, where smart money exited positions.

Markdown Phase:
Price dropped steeply to around $74,500, signaling the Markdown Phase of the Wyckoff cycle.

Accumulation Phase:
From mid-March to April, BTC consolidated between $75,000 – $87,000. Increasing volume during this range suggests a potential Accumulation Phase.

Markup Phase (current):
BTC has now rallied to $97,000 – $98,000, approaching the key resistance at $100,800 – $102,600. This indicates the start of the Markup Phase.

2. Fibonacci Retracement & Extension

Retracement Levels (from $109,700 high to $74,500 low):

38.2%: ~$88,700

50.0%: ~$92,100

61.8%: ~$95,600

→ BTC has broken above 61.8%, a strong bullish signal suggesting momentum is building.

Extension Targets (if BTC breaks $100,800):

1.272: ~$105,000

1.618: ~$110,000 (previous top)

2.0: ~$115,000

---

Conclusion

Wyckoff Perspective: One full cycle seems complete — Distribution → Markdown → Accumulation → Markup. BTC is now likely entering a new Markup Phase.

Fibonacci Perspective: If price holds above $95,600 and breaks $100,800, the next bullish targets are $105K, $110K, and possibly $115K
#BTC Hits 97K
#Bitwise NEAR ETF Filing
#OBOL Listing Rewards