Large volume can consist of several things: a. Lots of little trades happening b. A number of medium size trades happening c. Large trades (one or more) happening
To understand better, look at the individual trade sizes (if your display shows these)
Are the sellers lots of little trades with the buyers buying in big blocks? Then that is what the original poster is positing - big money soaking up multiple trades from the rabbit scared little investors.. If the trades are big blocks on the selling side, and lots of little trades on the buying side, then the big money is selling and the little guys are "catching falling knives".
You can still get falling prices with the big money buying.... If the small guys are running scared (or stopped out), they just have to bid low and lower and let the herd come and meet their price(s).