I can barely bring myself to look at this bounce—it’s not worth the attention. Positions shrank by 15% in a single day, aggressive sell orders are hammering buy orders, and large spot orders have seen net outflows for five consecutive periods. This isn’t a shakeout; the whales have simply locked the door behind them. The price may still be hovering above the long-term moving average, but the only thing propping it up is scattered retail buying. The big players have long since vanished. There isn’t a single convincing buyer in sight along the way up. This little fluctuation in a downtrend is nothing but psychological comfort for the bulls.