Distribution
Distribution is the phase in which the market spends its energy: price rushes at a level on big candles with no pauses and arrives with little fuel left, so a bounce becomes more probable.
It is the opposite of accumulation, where energy is stored. At any moment the market is in one of the two phases, and the phase tells you which way it is leaning at a level.
Learn more: accumulation or distribution and pillar three, direction.