You guys are not looking at the whole picture. Yes, supply and demand contribute to the price movements, but the reported prices are based on exchange trading, and do not include peer-to-peer and local bitcoin trades. For example, one of the mining companies sells blocks of Bitcoin to an ATM service. These transactions are not included in the trading stats, and do not affect the price. Similarly local exchanges in countries with problem currencies can be made at premiums of several hundred pounds, and this reflects a demand shortage of course,but it is not included in the international statistics.
Another factor is reported whale movements, and these may not be real trades, or may just be made to create bear or bull squeezes in a low volume market. Chart predictions can also be self-fulfilling, as traders rush to take advantage of the prophecy