About three months of distribution phase, with BTC hitting a new high of 12.6 in between. This CVD indicator turned green three days ago, which can be understood as BTC buyers now dominating the market. To put it simply, it's the accumulation phase. Just a week ago, it was still in 'Neutral.' With the upcoming monthly pattern, planning to hold onto some spot B below 9W for now. Sometimes, looking at all kinds of technical and fundamental analysis isn't as reliable as the wisdom of the ancients. But not expecting a new BTC high—Chinese New Year rally will probably just be an emotional frenzy.