Bart Simpson meme on 4H btc
To a large extend these moves are due to a lack of liquidity in the market as big bag holder aka whales are a domination force in terms of short term price action. With their large amounts of coins which they market buy or sell these moves are essential in understanding the current state of the market cycle: If price shows weakness and starts breaking support to the downside there most certainly should be a bias associated. If on the other hand any form of weakness gets bought up (like we see here) it is a valid assumption to derive ones bias from this conclusion.
Sorry for my retarded drawing .. couldn't find the "insert image" function in tradingview.