Those who put their genuine sell limit orders below $1.3 just give the bots or the shorters an insurance to limit their potential losses, so that the bots or the shorters can have more confidence in doing their job.
For example, when the bots or the shorters see retail sell limit orders with a total of sell100,000 shares at prices from $1.25 to $1.3, then the bots or the shorters just put a large order at $1.245 to first front run those retail limit orders, and then try to push the share price down. the large sell limit order would create a perception of a big supply rising, so that other retail holders would be scared and forced to sell under $1.245 to help further push down the share price. But if the big sell limit order from the bots or ther shorters are somehow taken by some other party, then the bots or the shorters just quickly react to cover the position by buying up the retail sell limit orders to limit their losses.
This can explain why sometimes the share price spikes for no reasons and why they put many limit orders in the queue with no real intention to buy or sell them. They just want to confuse the market about the real supply and demand.
The above is just my opinions.
We have to rely on the Nasdaq listing or getting big genunie investors in.
BTA Price at posting:
$1.19 Sentiment: Buy Disclosure: Held
