If according to the Wyckoff structure, the drop to 76k of $BTC has started
According to the scenario forming on the chart, the drop to the 76k area has begun to show signs. This is the largest liquidity zone below and also the place where the market needs to clear out to complete the final phase of the redistribution model.
Interestingly, after taking liquidity at 76k, the Wyckoff scenario often leads to a strong pump back up to the 99 to 100k area in January. That is the familiar relief pump, both to retest the distribution area and to lure in new money believing that the market has created a bottom.
At this point, the general sentiment is still stuck in the story that 80k is the local bottom. The majority will long throughout the drop thinking that the price will bounce back at any moment. But precisely because they do not accept the possibility of a deeper bottom, they become liquidity for the sweep down to 76k.
Wyckoff is always effective in that regard; it takes advantage of the market's subjectivity. Everyone sees the chart is weak but expects a rebound, and the market only does one thing: it gathers all liquidity before moving on.
During this phase, trading must be extremely alert because such drops usually do not give much warning and only manifest through a few bad candles before plunging straight down. Only when 76k has been swept and the liquidity is well absorbed can we consider the scenario directing back up to 100k.
Just keep an eye on the price reaction and don't let bias cloud your perspective!