$ARC Can everyone help me think, is this wave of ARC a Rebound or a reversal?

The current situation is that the open interest continues to decrease, and the number of short positions continues to decline, which means that the retail investors' short positions and the institutions' long positions are offsetting each other.
Subsequently, the market makers will continue to push the price up. Although some long positions will be relieved, market enthusiasm will increase, and new capital will enter. Alternatively, the market makers may continue to sell until they shift from long to short.