Severe dysphoria in MTF transgender is also a function of gross Testosterone levels, IMHO. I had moderate to severe dysphoria as a teen... then, I got fat in college and learned to cope with it (too bad I didn't cope with transition

the options were there, but more limited in the 90s). Fat reduces testosterone significantly. I was Obese (cat I, so just over the line into clinical obesity). Obesity has been shown to drop T by up to half. I personally don't think I'm a high-T person, either... though I will find out soon (bloodwork comes in any day now). I coped for 15-20 years until my coping mechanisms failed. Now I am transitioning.
If you're moderately transgender (by brain configuration) and increase your hormone imbalance (take more T, for a MTF), you will become more dysphoric. I've seen accounts (no actual studies, sorry) of a number of people who've tried to "fix" the problem that way and have had significantly worse reactions to their condition because of it.
The question you need to answer for yourself is if you're coping and will see that fail someday (IMO, you *will* see most coping mechanisms fail... I don't think coping through dysphoria usually lasts - though I
am projecting on that point), or if you just don't have dysphoria. If the latter, you will need to decide if you can live as the "wrong" gender or if you want to consider transition anyway. (If you don't see your birth assigned gender as the "wrong" gender, you're probably on the trans* spectrum, but not transsexual).
Those aren't easy questions. A gender specializing therapist is a
requirement to work through these issues quickly (for most people and in most cases), but you must make sure you find a good one! I worked through my issues on my own, but again... that took 15-20 years (I am 35). (Now I see a therapist as someone nice to talk to about social and family problems during transition, but little more than that).