There is a more evident reason : In our every day life, making profit is associated with selling something higher than what we bought it for, we are conditioned that way
1) the average investor doesn't understand short - selling, so they don't do it. 2) the market trends up over the long term, because... 3) our monetary system is inflationary and assets keep pace with inflation, over time.
NOT because the price have been bullish all these decades... but because of natural Human tendency to be good in nature. We are generally optimistic beings. By doing what is best for everyone's future, we evolve socially.
So what's wrong with shorting? You sell first, higher, and buy back lower. That meets the criteria you listed of buy low and sell high(er). In reality, most investors don't even consider shorting because they don't either understand it or don't even know it exists.
Basic mentality dictates that people want to trade on the upside. Trading on the downside feels unnatural to them. I only trade on the down side. I am not scared to leave a position overnight because if something bad happens it only benefits me.
The only fundamental thing I am scared of is when a company gets bought. Then all the charts in the world are worthless and I lose all money.