They are technical trading "rules" and yes they are written in all sorts of technical trading books all over the place. Certain patterns have certain price targets based on how they have played out in the past. Do they always work out like that? Nope, but they play out a certain way enough times to be slightly better than a coin flip, hence "rule".
And btw, with the amount of liquidity out there and corporations coming into bitcoin, the sellers are not likely to overtake the buyers in a sustained fashion any time soon. Check out my blog some time to get some insights into this.
Well that's good news for people who want btc to stay high hehe, thanks.
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Yes it is. Are you not one of them?