Shadow Escape Help

im fairly new to my sin and still trying to work out the ginks in the skills.

Shadow Escape description says it dispels negative status effects BUT i used it when i got hit with a bleed and it did not dispel the bleeding effect.

i thought this skill had the similar effect the Psychic will (minus the resist damage) where Psychic will purifys bleeding and other status skills.

can some one explain what it means