Still relevant... we got a little shakeout into the middle of the trading range while I was sleeping. We might test lower but watch the volume. If it's not high, don't get spooked.

Shakeouts are low volume drops to "test" the market. If you're a whale, you hate weak hands that ruin your rallies. So you can dump a bunch of coins and the market immediately tells you a story. Any sellers left? If yes, another shakeout is in order. If no, safe to go up. As a bonus you get to catch stops below the market that lock traders into poor positions. This is good because they will panic buy later.

Of course it could be miners dumping but to get the best price you'd set limit orders. There is great slippage market selling that many coins and if you're a miner, there is no interest in pushing the price down with large market sells, the price is low enough as it is!