From the last three months prices of Bitcoin are range bound and hovering around 3600$ .It seems that the prices are settled and waiting for the uptrend movement . Is it the start of the journey towards 20000$ again?
Your theory is kinda stupid.
The prices aren't waiting for anything.The whales are waiting,which leads to all the other traders waiting.
The market is waiting and this helps the bears,because if they start mass selling btc,the price will go down for sure.