PLOTING btc price over M2 tells a much, much different story. We have been the biggest accumulation of an asset in the history, shaking out retail all over 2021. This cycle is not over, and retail FOMO is yet to come... 2022/2023 possible market top.
The price of Algo has broken its solid resistance. I believe this is a Spring event on a reaccumulation pattern. There is a lot of Fear which indicates a good moment to buy. I do not recommend leverage as it has a really high risk, but if you already have ALGO and want to stack I believe it is a good moment to buy more. Do your own research.
I can see a confluence of fibonacci extension levels 1.618 and 2.618. The price has bounced of the 1.618 level of the bigger extension and is aiming towards 2.618 following an uptrend (above 200 ema)