Let me start with some jargon: liquidity sweep.
Put simply, it means pushing the price down with volume to sweep up the stop-loss orders sitting there, then pulling it back up.
That was the candle at 5 a.m. today:
$HYPE .
One candle slammed it down to 77.096 / volume 266,000 contracts / usually it’s only 40,000 to 50,000.
After the sweep, it started climbing / from 77 all the way to 79.301 / over fifteen hours.
What about volume during the climb? / 40,000 to 70,000 / not a single convincing candle.
That’s what they call a low-volume grind up: the price is rising, but the buyers aren’t showing