I'm catching up here. Is this what happened?
We were going up, someone spread some fake info, the sheep panic sold, info turns out to be fake, price stays down. Correct?
Another perspective:
We we're going down, hit the minor 540 support into a dead cat bounce, then some sheep started panic buying because of all the latest 'hot news'. Now that the hype is over, we can resume the downtrend.
I wasn't here too see what happened. I guess the answer is simple. Did the selling start when that China "news" came out?
Amazing how there is so much good news and it does nothing to the price while any person can create a fake tweet or whatever to instantly make the price crash.