Wyckoff Model predicts Bitcoin Top.*7

Phase E

The final part of the distribution is marked with increased sell pressure, with a series of lower highs, and then lower lows. Here, the price begins to leave the TR and as it does so, the supply takes full control. By this point, the price can already expect to reach the level determined as the first Sign of Weakness (SOW). Rallies in this range are quickly faded and major breaks of structure typically lead to rallies up to but not much further above (if at all) of the level broken to the downside.

A clean break of the SOW signals the final part of this phase which is the draw down in price.