So, as projected, a new S1 was made by the lower BB, but no close below since.

The arrow shows where they broke the Rat Poison pattern back up.

The big question is what are the pros doing currently. I do not think that they are selling.

Based on squaring wicks, the market maker first covered their longs, then their shorts twice. They must be neutral to net long.

There are those two red volume blocks above that were left at the end of abruptly terminated high volume churns (green volume bars) to the upside (more orders to be had).

All in all, it looks to be a distribution, but since they don’t seem to care for making an S2, I would think that they want to lift price out of this range on the upside first.