$PUMP 5-minute trading volume was approximately $2.72 million, 8.8 times the previous average; prices fell 0.39% over the same period.
Let’s talk about what’s behind this number.
Trading volumes in futures and spot markets often differ considerably. Futures volume includes a large amount of leveraged trading, so the two figures don’t mean exactly the same thing.
When volume rises near a low and the price doesn’t make a new low, some people see it as a sign of buying support—but this still needs confirmation from subsequent candlesticks.
Don’t let a single number throw off your original strategy, and especially don’t gamble borrowed money on any particular reading.
#PUMP
Let’s talk about what’s behind this number.
Trading volumes in futures and spot markets often differ considerably. Futures volume includes a large amount of leveraged trading, so the two figures don’t mean exactly the same thing.
When volume rises near a low and the price doesn’t make a new low, some people see it as a sign of buying support—but this still needs confirmation from subsequent candlesticks.
Don’t let a single number throw off your original strategy, and especially don’t gamble borrowed money on any particular reading.
#PUMP
