Oh, Bitcoin, you fickle beast! 🪙 Todd Butterfield, the big cheese at Blackbay Capital, is sitting this rollercoaster out. In a chart so fresh it’s still got that “new chart smell,” shared on X (formerly known as Twitter, because why not?), the Wyckoff wizard declares: “Yep, I’m still sipping my tea on the sidelines with #BTC. My Wyckoff crystal ball says ‘NO BUY ZONE AHEAD!’ 🚫💰 We’re below the .382 retracement, folks-that’s like showing up to a party after the cake’s been eaten.” 🍰
Wyckoff’s Crystal Ball Predicts a Bitcoin Price Plunge Deeper Than Your Ex’s Texts 📉
Picture this: May to November 2025, Bitcoin’s trading at a cool $92,838. Butterfield, armed with his Wyckoff wand, maps out a distribution so textbook, it’s like Shakespeare wrote it. The summer rally hits a Buying Climax (BC) just north of $123,000-cue the confetti! 🎉 But then, an Automatic Reaction (AR) swoops in, setting support at $112,000. A Secondary Test (ST) tries to revisit the glory days, but that white resistance line at $123,000 says, “Not today, buddy.” 🚧
Then comes the Upthrust After Distribution (UTAD)-Bitcoin’s version of a fake-out. It teases us by peeking above the ceiling, only to tumble back like a drunk uncle at a wedding. 🥴 Wyckoff logic says this is the trap for the greedy latecomers. The big players? They’re selling faster than tickets to a Mel Brooks revival. Once the UTAD fizzles, Bitcoin breaks below the AR line in a Sign of Weakness (SOW), then hits a lower high labeled Last Point of Supply (LPSY). Rally? More like a rally cry for bears. 🐻
The trend metrics? They’re singing the same bearish tune. The 20-day SMA is at $103,132.2, and the 50-day SMA is at $110,033.9-both sliding downhill like a sled in December. With Bitcoin at $92,838, it’s cozied up below both averages, screaming “markdown phase” louder than a car salesman. 📉
Butterfield whips out his Fibonacci retracement ruler (yes, that’s a thing). The 0.382 retracement at $95,358.1 and the 0.5 retracement at $101,257.8 are marked like treasure map clues. Bitcoin’s below the 0.382 line, and Butterfield’s like, “See? I told you so.” 🤓 A tiny bracket highlights how far BTC needs to climb to test deeper waters-good luck with that! 🌊
Below the price, three Wyckoff indicators are flashing redder than a matador’s cape. The Wyckoff Optimism-Pessimism line is at -520.89K-that’s a lot of pessimism, folks. The Wyckoff Force indicator? Negative at -852.3, thanks to volume-backed selling. And the Wyckoff Technometer? It’s at 40.7, neither overbought nor oversold, just sitting there like a judge at a talent show saying, “Not impressed.” 👎
At press time, BTC’s chilling at $91,570. Will it bounce back? Only the Wyckoff gods know. But Butterfield’s advice? Stay sidelined, grab some popcorn, and enjoy the show. 🍿
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2025-11-19 01:13