March.. April now may and only 8 hours below $400.......................................................................................
Yes, there was some buying below $400. Still, those fakeouts are no prove for a trend reversal.
IMHO fakeouts are not even an indication for a possible change in trend direction. I'll change my opinion instantly, if you show me a statistical prove (backtests), that fakeouts indicate a trend reversal with an accuracy better than a coinflip (50%).