wyckoff redistribution phase for btc

assuming elliott wave 4 is not completed, then
the current market view is likely to be in redistribution phase and price action can take place as in the wyckoff redistribution schematic
further details available on the chart

alternatively, if elliott wave 4 is already completed then we are already in wave 5 and heading towards new ath

please note that this analysis is not a financial advice

happy new year

Trade closed: target reached:

in case formation is runnng flat then target reached

yet the formation could be extended flat so some more drop to be expected

wait for clear confirmation for long entries