Maybe the key question is really "Who's sentiment matters the most?". The shift in momentum must largely come from the big money. In the end, it's the big money that triggers the reversal, not us little folk.
When you see a top or bottom price usually ranges for some time at that point. However what looks like a top or bottom can be just ranging and after that price can continue in the same direction as it were. When I see ranging I'm waiting for my price action candle signal to enter the market.
I think what is over looked too often is the big picture cause so many trade smaller timeframes. My scalping one minute bars, a high/low is a small burp within hourly or daily bars, so what I see on one minute "blow off" top is happiness as waiting for lows to come in to build larger less risk position adding onto longer term trade on larger timeframe. I generally am waiting for highs/lows to form, for me one of the most consistent signals to trade, not waiting for them to make most on trade or be first to the party, but risk is smallest if wrong. Few ever discuss slope of the highs for a top or lows for bottoms, if you have developed how many bars or time to be viewed within one chart, and same goes with up and down on screens of so many points so it stays uniform, so a 75% angle will be the same on any symbol you might be trading, the slope of the angle must be the same, people often throw away ideas cause the charts they use are different cause of size of moves. I believe markets move out of "fear" or math. Fear of losing money or losing opportunities, programing is dictated off variables of math based on originally people's fear. I think no matter what happens, computers will always be faster and I never see people as a group ever change, they are a flock of sheep. Many have qualities of being correct first and the money second, most of these traders are often get bankrupt. You do enough back testing, different tops/bottoms have same features regarding slope, like we experienced in February stock market slope, volume declines near extremes as large institutions/traders already have their position, retail are pushing it up. There seems to few times where congestion happens at highs, as most will say congestion often leads to higher price. One of the patterns I look for are failures or called "Secondary" they are a failed attempt to go higher, they can form double to quad tops, but won't close above them. To me they are traps for inexperienced, and who don't want to reap off of them? IMHO
What happens at the top is there is not one single trader/investor in the entire world that is willing to pay the "Offer Price" and at the bottom there is not one single person on the planet that is willing to sell to the "Bid Price" Simple as that. Paraphrased from the great Mark Douglas.
Similarly to how Tom DeMark puts it, that markets top because of an absence of buyers not because of large amount of sellers and vice versa.
However who is buying then at the top? Now that is interesting, since you are looking at how rapidly the market is going up. Did you consider valuing the difference regarding the tops of up candles in an increasing chart? So candle 1 to candle 2 is less than candle 2 to candle 3, showing a possible top? This is confusing. Noticeably there are buyers at tops, there are still buy orders. View the orders at the top, there are still a thousand orders above and below price? What causes it to drop?
Of course there are buyers at tops and sellers at bottoms. A buyer for every seller. If bids and offers are equalized for a time but if at a certain point there are now less buyers with the same amount of sellers, relatively speaking, price will decline. BTW you do realize not all orders show?
Our lab has conducted a lot of tests on polycarbonate plastics and epoxy resins that contain BPA. Though the amount of BPA leached out from these materials is pretty low to harm humans there is no solid evidence as only tests for BPA have only been carried out on animals where the results cannot be entirely applied to human systems. There are many suppliers, for that matter, many polycarbonate manufacturer in my region that produce BPA-free products. We have done tests on those as well. To be honest some small amount of BPA has been leached out from those products, too. There hasn't been extensive research done on this topic or else we could know how many brands that are tagged BPA-free leach out BPA to tag them unsafe. I hope we can get on this project soon.
when market approaches the resistance line, market could - reverse and go down from there - pierce through resistance and go up and up and up - pierce through resistance, go up for a while, then reverse to do down. No one knows which path market is going to take. Perhaps an accurate crystal ball can tell. So make sure your trade plan is wise enough to capture the various possibilities. similar thing happen when market approaches the support line.