What is SMART MONEY doing with Telstra ?

This analysis is for educational purposes only.
Lets see if we can uncover the motives of the smart money through our charts ?
Still within a major downtrend with potential upside breakout pending to complete an accumulation base may best describe the trending conditions that Telstra is in at present.
Lets now look at the past price action behaviour within the current trading range/congestion in conjunction with volume on this monthly chart.
June 2018 bar is the selling climax followed by a successful retest in December 2018 followed by climax rally sets the floor/ support and resistance levels levels to watch going forward.
In short ZONE of $2.60 - $2.70 is now our MAJOR support and zone of $4.00 is the resistance to watch for a MAJOR BREAKOUT if and when on hand.
5 completed wave structure, followed by what may be seen as an A wave from June 2018 to Dec.2018 ( corrective wave) may also sum the price action behaviour that has set our support and resistance levels mentioned above.Is C wave now unfolding ? Sure is and if it did it will cause a major stir that would be seen as an major upside breakout,
What's next ? In the short term ,a retest of the resistance zone @ $4.00 after another successful retest of the major support level of $2.60-2.70 and potentially a MAJOR BREAKOUT.
March 2020 low was another CLIMAX/RETEST @ $2.87 which has been as a successful one confirming/reaffirming the major support level .
Lets now look at the three significant levels to try and uncover what the smart money may be doing ? $2.61 followed by $2.71 followed by $2.87.Can you see the rising levels of support ? What does this tell us in conjunction with the largest volume bar of March this year ? Smart money is willing to pay higher price in order to accumulate. Massive volume of March 2020 bar is a classic obsorbtion with lack of follow-through. Short seller or bear failing in their bid to set a lower support with smart money grabbing what was on offer.
Wait and see from here on...