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Possibly leak?
Another way to make sure to reduce bubble is to put the cup on the levers, fill it with a bit of oil and start squeezing the brakes (don't need to do proper bleed), small bubble should start appearing the more you do thi.
Put the cover on the cup and you can shake the bike properly, bang a hammer on the bike stand to send vibration also.
The biggest issues sometimes it's not the bleeding, it can simply be the calipers, I swapped calipers on customers and my bikes and it usually make a big difference.
My 105 R7020 levers from my Giant have always had a lot of travel to engage the brakes, to the point to having to pull the levers right up to the handlebars to fully engage. I've not ridden much the past year to really worry about it, but this past weekend in the wet going down Crystal Palace I was conscious I pulled the levers all the way to touching the bars and I was not getting the stopping power I do with my Tiagra RS505s.
I figured I just needed to bleed this as normal to get any air out so I went through the steps I always do. Feed mineral oil through caliper to fill up reservoir at levers. Then have a tube and bag at open up caliper while pulling on lever to push out air. I did this four times, filling the cup to the top and getting it to 1/4 full before topping up and repeating. I tap along the whole system to move air around till the lever feels tight, the close everything up. Put the brake pads back in, put the red spacer in and press the caliper to get the spacing right. At this point, the lever goes back to all the way to the lever again.
Is there something broken, or am I missing something?