Actually, withdrawing from an exchange is a bullish sign.
When $100M in ETH comes off an exchange, that is $100M ETH unavailable to be bought or sold...
There are blockchain TA guys that follow this kind of thing. It's called the 'LTH Supply Shock Ratio.' A large amount of Bitcoin hasn't moved in over a year. The number of actual coins available is small and so you watch the short-term, are coins going ON or OFF exchanges.
When you see LTHSSR high and coins are coming OFF exchanges, we're in for a supply shock which drives up price.
BTC is so darn transparent, it's actually not so hard to know when to buy/sell. It's just average joe retail investor isn't aware.
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