Basic/common knowledge but I always like to provide reminders like this during these situations. Price does not simply drive up to a level and reject instantaneously and spontaneously with such force without a sheer level of coordination and premeditation behind it. Quite simply: 1. Sell orders were set there waiting 2. Buyers were sat waiting to drive it up there 3. Shorts get wiped, switch long, spot buyers also jump in, whales sell spot 4. leveraged longs enter, force of whale sells wipe longs also 5. Profit from both sides For such a move to happen within seconds of a fake ETF approval announcement, alongside every media outlet covering the news almost instantly, a level of premeditation is the only logical explanation. Therefore, planned. Arrows and line just help visualise the 'sellers waiting' concept. I like to express things visually to help. News is always the ploy and justification to manipulate the market.