BTC bearish

Ever since Elon Musk announced Tesla will accept BTC as payment in February 2021, BTC price rally and subsequently dropped when in fact Tesla not accepting BTC anymore. Since then BTC has been trading in ranges that in my opinion fits into Wyckoff distribution pattern.
Current price trading at below midpoint of these trading ranges, we are likely in phase D of distribution schematic.
I may be wrong, just my own insight.
If BTC really do break support of 29k, its gonna be bearish year for crypto.
Cheers, no holy grail in trading. You trade what you see.