With the bulls giving a strong bounce with good volumes in the last 3 hours, it seems that the whales have probably come to a conclusion of a bottom as we see a very large amount of Bitcoins being taken off the exchanges like Bitfinex and Phoenix as reported below.

15400+ BTC in 8+ Transactions transferred out

In the last 5 hours, we were able to track at least 8 large transactions where BTC was transferred out of these exchanges.

Transaction 1: 1466 BTC out from Bitfinex: https://www.blockchain.com/btc/tx/b44e660dca636321a93aa57af460342d50e2f32054376a041bd3a85f917ff4cb

Transaction 2: 1359 BTC out from Bitfinex: https://www.blockchain.com/btc/tx/4812c0d4f4896bd2b1eac45697c3f8bcca400989b22132b3211a3b666e002d0b

Transaction 3: 1466 BTC out from Bitfinex: https://www.blockchain.com/btc/tx/2c8de5dbda486b4277532e1c5708423b9c5a8fcc6171f7fef7e9032605c5fb89

Transaction 4: 1467 BTC out from Bitfinex: https://www.blockchain.com/btc/tx/29c53c1c41e78cb01a6df276ff845c4558454ae755176dc0599512ca5be89d6f

Transaction 5: 1391 BTC out from Bitfinex: https://www.blockchain.com/btc/tx/b532739ce9f5e19b64e0ce47b8eedfabc29fbb55b1f2ed8ff0e59fb1f07d20c7

Transaction 6: 1883 BTC out from Bitfinex: https://www.blockchain.com/btc/tx/e943e014af05365cc70f456e696dd0ec0a85dd10578e5f95dbb70ba7efda7e91

Transaction 7: 2500 BTC out from Poloniex: https://www.blockchain.com/btc/tx/a2452cdaaeb1bdcd19463295322b7f7b8dd0fc0018e11ded284156cd41a1990f

Transaction 8: 2048 BTC out from Bitfinex: https://www.blockchain.com/btc/tx/e856048891ed9572a74db2a0cf749a28ccfd00a256caa7e667ec6ecf5e875640

As bulls start taking control of the price action, are we heading towards a rally towards $4500?