What are the whales doing? $CLO plunged 2.35% in 5 minutes.
To figure out who's selling, I usually watch two things:
· Are there consecutive large sell orders during the drop?
· Are there large buy orders stepping in after the price hits a low?
For comparison: 24h trading volume was $14.68 million, up 3.4% over 24h. If both signs are present, it's probably just a change of hands; if only the first is, be wary of another leg down.
#CLO
Crypto markets are volatile. Please be aware of the risks.
To figure out who's selling, I usually watch two things:
· Are there consecutive large sell orders during the drop?
· Are there large buy orders stepping in after the price hits a low?
For comparison: 24h trading volume was $14.68 million, up 3.4% over 24h. If both signs are present, it's probably just a change of hands; if only the first is, be wary of another leg down.
#CLO
Crypto markets are volatile. Please be aware of the risks.