Saw $MINIMAX close at 41.17 today. The intraday low at 38.8 was indeed bought back up, but that -4.46% is still there. Trading volume of 26M isn’t big at all—so what does that imply? It implies this rebound is just retail cheering itself on; big money hasn’t moved at all.
The sentiment premium provided by the Hong Kong market is different from the return of hot money to the US market. You can keep an eye on the funding rate on COINBASE: if it stays positive while $MINIMAX keeps falling on shrinking volume, then basically the longs are propping it up. The 38.8 level is key—if it breaks, don’t wait around.
The sentiment premium provided by the Hong Kong market is different from the return of hot money to the US market. You can keep an eye on the funding rate on COINBASE: if it stays positive while $MINIMAX keeps falling on shrinking volume, then basically the longs are propping it up. The 38.8 level is key—if it breaks, don’t wait around.