We can see through Volume Profile(Which is fucking amazing btw), that as we are approaching these key levels of resistance the sell pressure is immense.
Also noted on oneyearbitcoin the one year investors are down 63% of their money, which is a huge blow to confidence.
63% is above the 61.8% level, which is the golden ratio. This is problematic as it triggers thoughts of averaging down, shorting, selling, ragequitting, etc.