Quote from: alexyong342 on June 08, 2019, 04:30:28 PM

With Bitcoin 33% higher, did technical analysis cause the move or are background forces at work?

When trending down, the market is sliding down the slope of hope, and, when trending up, the market is climbing up the wall of worry.

At first glance, sliding down the slope of hope and climbing up the wall of worry dont seem to impart too much wisdom, but, under the surface, these phrases describe not only crowd behaviour but also one of the biggest causes of the crowds losses.

As markets move down, news that has the potential to stop the rout gains more attention. And, as markets move up, news that could end the rally becomes the focus.

The process of sliding down the slope of hope and climbing up the wall of worry is continuous. Even in the sideways accumulation and distribution phases of the price cycle.

The 5% use this process as one of the checks before they take a position because paradoxically all liquid markets, including cryptocurrencies, exhibit the worst news typically portraying a near hopeless situation at major lows, and vice versa, when markets are soaring, and the news is good, when everything looks fantastic, and the thought of a market selling off looks highly unlikely, its then that markets typically print major highs.

The catalyst could be exogenous, external to the market, like a natural disaster, a geopolitical shock event, or a cryptocurrency exchange collapse. Or, it could be endogenous, something internal; a shock report exposing corruption within an organisation, an earnings miss or a profit warning.

https://www.altcoinsidekick.com/blog/wonderwall

There are no such things as "slide of hope" and "wall of worry".Those terms exist only in your imagination.
There are factors that will cause panic selling and factors that will cause buying and FOMO.