History seemed to rhyme in this distribution. My *guess* is that Chinese entities were shedding Bitcoin during runs up, and the process of selling and absorption in other parts of the world created a similar looking pattern through both trips from 30-60-30. So the combined set of moves I would consider to be distributive and accumulative. Not sure exactly when or how this ends, but hopefully the coins have found stronger hands for a continued bull market.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.