Seeing $BP drop 11.48%, many people’s first reaction is “it’s already done rising.” This reading flips the signal on its head—what you should be watching isn’t the drop percentage, it’s the volume.
On September 26, when the price touched around $1.35, the trading volume was $48M—more than twenty times that of the early stage of this move. Then over the next two days, the price barely pulled back, but volume fell to $22M and $17M. During an uptrend, a pullback on declining volume is different from distribution on blow-off volume at the top—they’re not the same thing. In 30 days, it went from $0.41 to $1.34, +229%, but the market cap is only $334M, ranking at #138. With a coin this size, a single strong green candle can push it up, and a single red candle can scare it down—don’t mistake volatility for a conclusion.
I care more about $1.18, today’s low—also the dense accumulation zone before this acceleration. Bulls and bears, in fact, should both watch the same number: trading volume. What the bulls want is for volume to be at least back above $25M when the price rebounds and returns to $1.52, showing that support is still there. What the bears want is that on the day it breaks below $1.18, volume expands—only then can you say the chips are truly moving. A breakdown on reduced volume versus a breakdown on expanded volume mean completely different things, and you can verify it within a few days.
It’s only 15% away from the ATH at $1.58—calling it a top is too early, and calling it “safe” is also too early. At this level, the decision power is in the hands of volume, not viewpoints.
On September 26, when the price touched around $1.35, the trading volume was $48M—more than twenty times that of the early stage of this move. Then over the next two days, the price barely pulled back, but volume fell to $22M and $17M. During an uptrend, a pullback on declining volume is different from distribution on blow-off volume at the top—they’re not the same thing. In 30 days, it went from $0.41 to $1.34, +229%, but the market cap is only $334M, ranking at #138. With a coin this size, a single strong green candle can push it up, and a single red candle can scare it down—don’t mistake volatility for a conclusion.
I care more about $1.18, today’s low—also the dense accumulation zone before this acceleration. Bulls and bears, in fact, should both watch the same number: trading volume. What the bulls want is for volume to be at least back above $25M when the price rebounds and returns to $1.52, showing that support is still there. What the bears want is that on the day it breaks below $1.18, volume expands—only then can you say the chips are truly moving. A breakdown on reduced volume versus a breakdown on expanded volume mean completely different things, and you can verify it within a few days.
It’s only 15% away from the ATH at $1.58—calling it a top is too early, and calling it “safe” is also too early. At this level, the decision power is in the hands of volume, not viewpoints.