This kind of volume, to put it bluntly, doesn't justify believing in a 20% move.
$26 million in trading volume is a drop in the bucket for BTC, and for MAGIC it's only enough to pump the chart for retail traders to see. A truly strong rally needs volume to build steadily, step by step. A big green candle on shrinking volume like this usually means the flow of buyers has dried up—it's simply being pumped to lure in momentum chasers.
If you ask me, it's best to stay away from this kind of market. If you really want to trade it, wait for a pullback and confirmation. Don't mistake a spike for a trend. $MAGIC
#行情异动 #币圈观察 #MAGIC
$26 million in trading volume is a drop in the bucket for BTC, and for MAGIC it's only enough to pump the chart for retail traders to see. A truly strong rally needs volume to build steadily, step by step. A big green candle on shrinking volume like this usually means the flow of buyers has dried up—it's simply being pumped to lure in momentum chasers.
If you ask me, it's best to stay away from this kind of market. If you really want to trade it, wait for a pullback and confirmation. Don't mistake a spike for a trend. $MAGIC
#行情异动 #币圈观察 #MAGIC