$QI In just one hour during the intraday session, it nearly doubled—I’m not chasing it. BENQI’s Binance spot trading in Beijing time from 09:00 to 09:59 moved from 0.001727 up to 0.002897, topping out around 0.003400. The push was aggressive, but the close ended up about 15% lower than the high; the pullback is already clearly visible at the top.
Volume was also heavily concentrated: the 09:30 15-minute candle had about 1.44 million USDT in turnover, roughly half of the ~2.88 million for the whole hour; the prior hour’s full hour was only about 119,000. Then at 09:45 it closed at 0.002897 and failed to continue the prior candle’s surge pace. This spike in volume suggests trading suddenly got crowded. You can’t infer whale accumulation or a short squeeze liquidation just from the spot candlestick chart, and you also can’t treat the intraday high as a solid support.
I haven’t yet verified any official new announcement that directly corresponds to this sudden rally. I’m only watching volume and price. Next, if a full 15-minute period can reclaim and hold above 0.0029, and pullbacks still see decent trading activity, then we can talk about strong top-side support. If it falls back toward the 0.00237 area where the move started from around 09:30, be alert—because the earlier thin trading could lead to a fast retracement.#QI #BENQI #volume-price
Volume was also heavily concentrated: the 09:30 15-minute candle had about 1.44 million USDT in turnover, roughly half of the ~2.88 million for the whole hour; the prior hour’s full hour was only about 119,000. Then at 09:45 it closed at 0.002897 and failed to continue the prior candle’s surge pace. This spike in volume suggests trading suddenly got crowded. You can’t infer whale accumulation or a short squeeze liquidation just from the spot candlestick chart, and you also can’t treat the intraday high as a solid support.
I haven’t yet verified any official new announcement that directly corresponds to this sudden rally. I’m only watching volume and price. Next, if a full 15-minute period can reclaim and hold above 0.0029, and pullbacks still see decent trading activity, then we can talk about strong top-side support. If it falls back toward the 0.00237 area where the move started from around 09:30, be alert—because the earlier thin trading could lead to a fast retracement.#QI #BENQI #volume-price
