95% of the so called "retail orderbook" is bot traded and bots trigger when the conditions are met. It's really that simple.
Discussion
and in this case, the bots are just looking at Moving averages and rejections, etc?
It's a constant game of supply vs demand and support vs resistance. whichever site dominates is setting the direction. Also, there is nothing macro about the image in the original note. It's clearly zoomed in to make a point.