As a veteran crypto trader, my first reaction to this 5-minute move of +2.66% on $US was to check the trading volume ($404 million over 24 hours).
Why check volume first? I've been burned before: rallies on low volume often fade, and chasing them can leave you holding the bag.
This time the gain is fairly moderate, so it's worth watching a little longer.
What do you usually look at first when you see a rally?
Just sharing my observations, not financial advice.
Why check volume first? I've been burned before: rallies on low volume often fade, and chasing them can leave you holding the bag.
This time the gain is fairly moderate, so it's worth watching a little longer.
What do you usually look at first when you see a rally?
Just sharing my observations, not financial advice.