Question from noob. What is the meaning of this?

With psychology mostly driving the upward bitcoin march, a correction or even a reversal was expected around the infamous 10k mark and we got there, flew past it even, but the expected correction came. It came with two upward reversals but formed this large downward channel of lower highs and lower lows. In the ellipse, as the price pivots downward for the third time it gets an identical and early reversal and breaks completely out of the channel.

Anyone have an idea behind why this happened? Its almost as if that time and price were chosen.
I guess do the opposite of what the market is doing really is good investment advice.