Is the price going up? Probably but higher volume shows higher conviction in the movement. If it was moving up under high volume I would be more suprised with it flash tanking back to $600 or something like that. If it moves up rapidly on low volume it really shows no conviction in the price movement. It means a few trades and potentially a wide spread it all it takes to move the price up. It doesn't mean a massive number of players are "betting" massive sums on their conviction that the trend is sustainable.
Easy up = (potentially) easy down.
For the record before I get flamed I am not saying dump it all, it is going to crash, you should short it, or some magical line told me we are going to $671.38 within 48 hours. I don't try to day trade the market. Just pointing out that a lack of volume indicates a lack of conviction, a lack of support or base and like before if it reverses it is going to free fall.
Easy up = (potentially) easy down.
For the record before I get flamed I am not saying dump it all, it is going to crash, you should short it, or some magical line told me we are going to $671.38 within 48 hours. I don't try to day trade the market. Just pointing out that a lack of volume indicates a lack of conviction, a lack of support or base and like before if it reverses it is going to free fall.
did you happen to see my argument up there? does it make any sense to you?
