That wasn't a wash trade pattern. It was more of a triggered capitulation where a market maker reached down a few cents to a large stop loss which then created a cascade taking out several more stop losses within seconds. Buying returned once stink-bid land was reached, which is where some covering action caused that sharp bounce.
But what do I know. I've only been watching this kind of market action for 30 years, so I have no more clue than anyone else. ;-D
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