That 1h small bullish candle looks fairly convincing, but over on the spot large orders side, in the past three hours they couldn’t squeeze out even a single net inflow. All twelve K-lines are green, yet the money is getting more and more excited—so who is this bounce supposed to be for? The price is being pinned under the four-hour moving average; when it bounces, it only manages to reach the vicinity of the 20-period moving average. Both the 4h and daily charts are still trending downward. The little bit of short-term “repair” power isn’t even enough to count as a real attempt, let alone a proper test. Honestly, I can’t be bothered to keep hearing anyone talk about “bottoming out” on this chart. It’s a slow-cook-the-frog kind of setup: on the downtrend road, no one bullish “catching the falling knife” has managed to hold. The bounce is just laying down steps for distribution—then falling even lower. I’ve seen this kind of playbook too many times.