Help a brainlet out, am I reading this correctly?
If a coin has a large buy wall and the buy portion of market depth is greater than the sell portion, this would indicate a bearish potentials.
The reverse of the above would represent bullish potential. Or am I retarded?
Yes.
Yes I am correct or yes I am retarded?
yes you a correct retard
Reverse it faggot.
Cheers, thanks
Both.
Why is that? I understand making calls based on depths chart is stupid but I'm trying to understand ALL the market information available not just candles.1
bump.
No the other way around.
If there is a large buy wall it's harder to get into a bear market
If there is a large sale wall it's harder to get into a bull market.
Basically the walls are preventing the price to fluctuate in one way or the other.
Everything can be generally explained by the basic supply/demand rules of economics:
Depth chart is there to show you supply at each price and demand at each price.
Supply matching demand price doesn’t show up because those transactions happen and are cleared from the book.
So it’s stands to reason that a bid book depth being significantly higher than the ask book depth means there is more demand than there is supply and that would tend to indicate bull sellers market...therefore a premium can be demanded for the unit being traded.
no.
literally one person with enough weight can put up a 100 coin wall and make everyone think it's a market consensus.
also you have it backwards
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Good info, thanks
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That is a very cute catdog thing. How much BTC to fuck it?
dumping what I got
you're welcome OP
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>Moon mission when it eats that wall
I've got a question regarding that. Why would anyone set up a wall to be "eaten" like that in the first place? Does he plan to cancel the order once the Buy side has built up enough, thus dropping his wall and making the coin skyrocket?
I've got a coin I'm looking at where some faggot set up a 44-BTC wall on a coin that costs less than .00005 BTC apiece, and I have no idea why he would do that.
>Chad Spikes
You mean those spikes that only appear for like half a second? Those are large orders being cancelled, right?
Exactly. More people should be aware of this. Good crypto PSA.
kek
not that simple.. there are fake walls too. This market is extremely manipulated by whales that feed on you little fish
good bread