Not disagreeing with you with the profit taking, but the bots are there to push the price around. At the moment its been set to bring the price down. As there is little buying pressure at the moment.
That's called manipulation. I have circled some of the trades and the bots sell down and then pop back up in the sell side one pip higher.
The 5min chart shows we are entering the oversold state. We are outside of the lower bollinger band and the RSI is close to 30.
A reversal should occur at some point, depending on how long the bots what to keep the price under control.
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