Whales are holding but that doesn't mean they are not selling.

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Whales have been holding bitcoins too long and now they are selling at the high to buy more at the low and they don't need to sell all of their bitcoins to make the price of bitcoin plunges. Selling less than 1% of one whale's holding would be enough to disrupt the bitcoin price. In the stock market, manipulating the share price will land you in prison. However, in bitcoin, you don't have that kind of restriction which means the price does not have an upward or downward limit and you can't predict the price of bitcoin. It's pure speculation and only the whale can control the trends.