BARD’s daily volume of 285.43 million USDT is exceptionally high, but high volume is often the main reason whales engage in extreme back-and-forth moves. That much liquidity makes it easier for large players to dump their holdings or wipe out retail leveraged positions without immediately killing the market.
Massive volume in the futures market doesn’t guarantee that prices will keep rising in one direction. The busier the trading, the larger the buildup of Long and Short positions that whales can liquidate in either direction with rapid pump-and-dump moves.
As long as the price holds above the MA99 at 0.1196, there’s still room for further gains. If it breaks below the MA99 again, the upper wick could turn into a bull trap (a Long trap).
#BinanceSquare
Massive volume in the futures market doesn’t guarantee that prices will keep rising in one direction. The busier the trading, the larger the buildup of Long and Short positions that whales can liquidate in either direction with rapid pump-and-dump moves.
As long as the price holds above the MA99 at 0.1196, there’s still room for further gains. If it breaks below the MA99 again, the upper wick could turn into a bull trap (a Long trap).
#BinanceSquare
