1. Overview
On the Weekly timeframe, Bitcoin continues to follow the Wyckoff distribution cycle confirmed since early October.
After forming an UTAD at the 126k zone, price sharply declined to 107k, then slightly rebounded around 111k, clearly showing the behavior of Phase D – Sign of Weakness (SOW) on the higher timeframe.
Over the past 7 days, BTC has been trading within a narrow 107k–112k range, with decreasing volume — signaling weak demand absorption and no clear recovery momentum.
This reinforces the view that the market is still transitioning from Phase D → E, and a breakdown below 107k