If you drink the idiotic, MatTheCat Koolaid and claim the market can only move in directions that are the reverse of where investors go.  This claim is essentially saying it's not possible for the market to have any fundamentals whatsoever and everything is nothing but a stop loss hunt.  Even if you believed this idiocy, the price was stable at $420 for several months, and the last few attempted shakeouts only got the price to $440, so everyone already knows where the floors are.  Since everyone knows where the floors are, attempting a shakeout is pointless when even more longs would pile in than what already exists.

Here was the last orchestrated shakeout event from like a week ago.  Someone with $3 million or so tried it on Bitfinex.  Bitstamp, Coinbase, and everyone else refused to follow their scam attempt and stayed $5-$8 higher: