I’m on Bittrex and just looking at a couple of “biggest movers” and got curious. When I look at a chart like this:
All these biggest movers have nearly identical patterns:
- The breakouts starts with a huge green bar spike followed by a one or two red bars then a couple more huge green bars.
- Shortly after, a huge red bar hits and the spike begins falling back to roughly half the highest spike. Volume also drops down, but usually not all the way back to essentially zero. Each subsequent drop happens on a another outsized red bar.
So the questions I have:
Where’s the actual volume data recorded? i.e. where can I read the actual value of that huge green spike? (or really, any of the volume data for that matter).
What is the green bar representing and what is the red bar representing? I’m guessing green is closing price of the tick higher than opening price of the tick, but just want a confirmation).
With chart specific questions out of the way, what is happening here on these spikes? Did a whale suddenly remove a sell wall or did a whale buy the crap out of the coin to spike the price?
Is this an automated buy/sell event or are live people actively and suddenly participating in this “frenzy”?
Every day for the last 4 or 5 days, I’ve been inspecting the “biggest movers” and their charts and it flat out doesn’t make sense what’s happening. I’m not really even finding appropriate news events to match up, so I’m quite clueless as what’s driving these huge gains in relatively unknown coins that have otherwise been flatlining for quite some time.