For the last couple of months the highs have been dropping and the lows remained steady. Eventually these two trends met, and the price needed somewhere to go.

For the last couple of months the highs have been dropping and the lows remained steady. Eventually these two trends met, and the price needed somewhere to go. The general downward trend implied the price would pop down, and that's what happened. This likely didn't come from any specific news, just malaise, algorithmic trading, and possibly a whale or two catalyzing an obvious setup for future accumulation.