Wait... $ARB ‌ actually just did that?

Looking at the 1h chart and it’s been a rough ride down for anyone holding. We just saw a massive dip toward 0.1081 which looked like a total capitulation move.
But check out the last few candles. We’ve got a decent bounce forming with some actual buying volume stepping in to push it back to 0.1135. It feels like the sellers finally ran out of gas at the bottom of that range.
The order book is still a bit heavy on the ask side at 54% so I wouldn't say we are out of the woods yet. If we can flip 0.1160 into support then we might actually have a reversal on our hands. Otherwise this is just a relief bounce before another leg down.
I’m watching that 0.1100 level closely now to see if it holds as a higher low.

#BuyTheDipOrWaitNow?