Everyone talking about the rally...

I am watching who is selling.

That's the real story.

Long-term holders are taking profits.

These wallets sat through brutal drawdowns.

They don't usually rush to the exit.

When they sell into strength... I pay attention.

At the same time...

Short-term traders are cashing out too.

That tells me confidence isn't exactly strong.

When both old money and new money are selling around the same level...

That price becomes a wall.

Not because of a chart.

Because of psychology.

The market needs real buyers to absorb all that supply.

Until that happens...

Every push higher can run into fresh selling.

Watch the bids.$BTC