Currently, BTC is smoothly moving from 74k to 93k, with successful low-level support appearing continuously in the price ranges of 79k, 84k, and 87k.
However, a very dangerous signal appeared during last night's trading.
During the rise of BTC, the first distribution point emerged, and as it approached 94.9k, it immediately turned around and dropped back to the 91.9k price range, with particularly high trading volume.
According to the WICKOFF technical method, this is the first buying climax point in the rising process, marking the beginning of the distribution or re-accumulation process, aimed at continuing to push BTC upward.
If BTC experiences a large-scale sell-off next, with particularly high trading volume, it can be confirmed that yesterday's sell-off point was indeed the buying climax point, and the distribution process has begun.
This is similar to the buying climax point on January 19, 2025, after which BTC experienced a strong sell-off with extremely high trading volume.
Although BTC may break through the buying climax range afterwards, the final main trend is still downward.
If you see a sell-off during today's trading, brothers holding BTC shouldn't rush to sell; you can wait for BTC to pull back first. Maybe it can turn into a dominant short position next.
If after last night's BC area, BTC accumulates for a long time in the 93.4k price range and absorbs all the supply, we can look forward to BTC continuing to rise!
Recently, it has mainly been about internal sharing, so friends I meet should pay more attention.
