The reason that the recent movement did not have much volume on the chart is that there were no sell orders on the order book on the way up so most of the market orders were filled by soaking higher limit orders.
According to the Binance's Order Book, two things to notice here is that:
1- There are more sell orders above 24900 which were not that much along the way.
2- The next major buy orders after 24600 are at 22800
When the price goes up, it fills all the buy orders and there will be a huge gap between the price and the major buy orders until the price is stabled. That is why a lot of big bullish movements have a bearish one after that.
If you have Bitcoin, my exit signal is crossing down 24500. And if you do not have any, PLEASE CONTROL YOUR FOMO AND DO NOT ENTER FOR LONG HERE!
According to the Binance's Order Book, two things to notice here is that:
1- There are more sell orders above 24900 which were not that much along the way.
2- The next major buy orders after 24600 are at 22800
When the price goes up, it fills all the buy orders and there will be a huge gap between the price and the major buy orders until the price is stabled. That is why a lot of big bullish movements have a bearish one after that.
If you have Bitcoin, my exit signal is crossing down 24500. And if you do not have any, PLEASE CONTROL YOUR FOMO AND DO NOT ENTER FOR LONG HERE!
Trade closed: target reached
nfa & dyor
Invest Smart!
Invest Smart!
