If we observe purely according to BTC chart techniques, we can easily see:
- Volume circled in yellow: Whales, sharks, organizations... have started to accumulate goods from April 2022 to July 2023 (I call this period the bottoming period) and they sit and wait. Waiting for the macro situation to turn, they leisurely, relax and not rush, let the market move on its own, small fish trade with each other to create a balance zone (I call this the bottom sideway zone).