Watch the money, not the talk: $CAP 1-hour rally of 9.12%
To judge the quality of buying pressure, I first watch two things:
· Whether there are consecutive large orders during the rally
· Whether large sell orders come in to push the price down once it reaches higher levels
For reference: 24h trading volume was $29.51 million, up 14.17% over 24h. The first condition is met and the second isn’t—only then can we say this rally is being driven by capital.
To judge the quality of buying pressure, I first watch two things:
· Whether there are consecutive large orders during the rally
· Whether large sell orders come in to push the price down once it reaches higher levels
For reference: 24h trading volume was $29.51 million, up 14.17% over 24h. The first condition is met and the second isn’t—only then can we say this rally is being driven by capital.