What's holding Bitcoin back from breaking through resistance?

Recently, Bitcoin has been bumping against the same resistance levels, but it looks like every time it tries to push higher, it just runs into a wall. Some folks blame the whales selling off, while others are saying it's all about low trading volume and the shaky macro situation. I'm wondering if this is just typical consolidation before we see a big move up, or if outside factors like regulations and interest rates are keeping BTC stuck where it is. What do you guys think? Is this resistance more about technical stuff, or is it really showing how the market feels?