I think there are 2 forces at work right now. The shorts who want to cause a panic sell, and promoters who want to buy low. The shorts of course want to drive it down so they can cover, but the promoters want to drive it down to pick up cheap shares, and then blast it out in their newsletters and sell for a large profit.
Both of these nefarious & unscrupulous groups know that one thing is inevitable - they will both have to buy/cover as some point.