RE: Buy the dips.14 Mar 2024 10:12
That was no tree shake searcher, at least in my understanding of a tree shake ie market makers take the price down, perhaps instigated by a few sellers, to grab the low hanging fruit (take out stop losses) and panic others into selling. This is quickly followed by buyers taking advantage of the resultant panic and taking the price straight back up. That has clearly not happened this morning.
The price was no doubt taken down by a big seller and has stayed down, no doubt assisted by a weak market and those who decided to bank some profits after all due to panic.
Be interesting to see if it recovers at all later on today.