Last Tuesday was a response to the bottom players coming in, which created the momentum + volume. As you said, people follow momentum and movement - once it started moving off bottom and bouncing, many others joined in.
The patience part wasn't clear, sorry. I was referring to all the people the last weeks/months that are flipping straight from bid onto ask, with low vol, for $15-$50 gains, or swing trading for 20-30%, etc. I want more people to see the bigger picture and have the patience to see it through.
And regarding hitting the ask, I get what you're saying about trading strategies, but IMO longs could be helping to create the momentum/hype. You said it yourself: They follow momentum plain and simple! Once its starts moving up everything that everyone is saying will then start to generate buzz and that will create speculation and people willing to take a risk by hitting the ASK because they don't want to miss out on the next best thing
I'm long my 20m+, just waiting and sometimes frustrated ;)
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