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.
The thing is, if this "downtrend" we just "resumed" - if it was flipped upside down, would be a very suspicious uptrend. I doubt you would be buying into it, would you TERA? Let's say, if we flipped the chart upside down and put 1150 as the price. Who's buying?