OmiseGO set for a breakout?

>The new algo is keeping the price at US$10 instead of in the 250k range. It's no longer tracking the rise in btc. It did when the fucking thing was falling though. Fucking assholes. Dumping it.

seems like eth and its tokens are doing this

>upbit.com

It's gone.

Excuse the ignorant question as I'm not a day trader just a hodl er. When the wall is pulled I take it the price will plummet?

What's the best advise you can give to me?

If you're a hodler stop looking at the charts.

I would, but it facinates me, I enjoy the Hughes and lows

Highs and lows. Fkin autocorrect

The red wall is the sell wall.
It usually means that the price will not
rise above that point given the amount being sold (in this case, 39 BTC worth of OmiseGO).

Whales usually put these up to 'scare' people into selling and accumulating at a lower price. When the sell wall is pulled, the price usually rises.

By contrast, a buy wall is be a way to keep the price up and sell at a higher price. When a buy wall is pulled, the price usually plummets.

Then it will fuck with your head and turn you into a day trader and unless you know what you're doing you'll get burnt. You can't be both.

I hate this fucking shit coin so fucking much

Hurr durr but look it's still $10

the walls are there at a set percent of where a guy is buying in most cases. so i buy at x price i set a wall lup at 5 percent higher. the other option is a guy fells the need to buy at a price. so he puts a wall up to scare off weak hands and his buy order gets filled. this only works in shitcoins. people dont do this with btc because if you put up a buy wall for 100 btc it will gett destoryed. becasue most of the time if you buy 100 btc price will jump and you lose money. but 30 btc sell walls are normal in btc. but last night i bought at the bottom of a coin and could only get 0.2 btc in beofre it shoot up. i had 2 btc i wanted to put in it

Thanks,
Point taken. > got stung with Gnt lessen learned. Make mistake once, not to be repeated (old skool IT eng)

Fuck, I feel retarded asking this, but can you break this down even further for me?

all i see is a buy wall. when did you take your pic op?

Yeah, I didn't mean to sound like a prick btw. The only time I bother buying anything now is during times of significant BTC fud or a BTC pullback when everything goes on special.

The whale/bot took down the sell wall. That's what whales do.

Ridiculed?

Yeh, like the Autumn 35% discount sale of btc just gone!

No thank you, sound advise. My sister once said there is no fkin way you can go to Vegas > I like a gamble on things.

yeah I don't get it either

>

39 BTC worth of OmiseGO are being sold at around 0.00229 .

From this, you can deduce two things:
1) The price is highly unlikely to rise above 0.0029, since a hell of a lot of OmiseGO needs to be bought up.
2) Because of 1), the price is not going to rise, AND there is more supply than demand, which means people are going to try and offload their OmiseGO by selling it at a price lower than 0.00229. People will start undercutting each other and the price will fall.

Since whales can manipulate the price like this, they may put up a sell wall to accumulate more OMG at a lower price.

If that's what you think?
Just soaking in the advise from anons.

>someone is dumping 39 btc worth of OMG
>whale accumulation
kek

why isn't it going up? i'm still holding some.

why is this coin such a magnet for the biggest whale cunts?, been hodling since end of august, bought in at $7, whales were playing nice letting it rise $2 every week then china fud hit and theyve turned into complete cunts