A long green candle creates FOMO while a long red candle creates fear. If it keeps bouncing back and forth, the majority of the crowd will likely get discouraged.
Looking at the chart $BTC BTC, I still see that the price is moving within the range of 90-100k, and in the next 1-2 weeks, it is likely to stay around here.
Altcoins are different; since most people hold altcoins, it is understandable to offload before the next increase.
