A market sentiment where participants are skeptical or unwilling to accept a significant price change, often occurring at the beginning of a new trend.
In market analysis, 'disbelief' refers to a sentiment where investors and traders are hesitant to acknowledge or participate in a developing trend, particularly an upward one. This skepticism often stems from prior negative experiences or a general expectation that the trend is unsustainable, and it can persist until the price movement becomes undeniable.