Sort of like a mass of snow clinging to a giant mountain...waiting to find out if the layer beneath is sound or if its going give way.
So the Log support doesn't last forever, so we embrace the breach when it happens? But not yet?
According to this, we're on the nasty side of the long term support already...does your 1Day show a breach already? I have a version of your previous post https://www.tradingview.com/e/V4PAEgyp/ showing it has. My 1D shows a breach too. Surely that will carry mass negative sentiment?
But who knows... We might break down with this. I hope not, but there just seems to be a ton of good news rolling out lately, and every significant bear market to date has be due to bad news of which we don't have...
Like you said though, I do think there are a lot of people on the sidelines waiting for a go signal either way.