Are you sure it's smart money?
“B-waves are phonies. They are sucker plays, bull traps, speculators’ paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacency"
Just a possibility...
Maybe, but I wouldn't bet on it. This looks impulsive to me.
I also think Bitcoin's underlying supply dynamics make the Wave B bull trap unlikely. Too many coins are transparently being accumulated by institutions and services like Square, and on-chain metrics show old coins are being distributed.
https://insights.glassnode.com/long-term-holders-selling-btc-bullish-signal/The context is extremely bullish.