medium · Volume Price Analysis

Which emotional driver is most likely responsible for the formation of a resistance ceiling during a distribution phase?

1. Greed among insiders aggressively building a large inventory near the lows.
2. Euphoria among short-sellers who are forced to cover, fueling a sharp spike.
3. Relief felt by trapped traders who sell as the price returns to their entry point.
4. Panic felt by retail sellers liquidating positions in a steep downward waterfall move.

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