Newfag, can someone explain what this buy wall stuff means? does this mean the price is about to go higher?

newfag, can someone explain what this buy wall stuff means? does this mean the price is about to go higher?

how do you read buy/sell walls to know when something specific will happen?

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As soon as these charts stared coming out, people started putting up fake buy/sell orders to manipulate them and this manipulate price. But it is a real representation of cumulative orders actually on the books. Orders that can be cancelled in a moment.

I would like to know this too desu senpai

i see. thanks

should it all be ignored for the most part or no?

a wall resists momentum in one direction

anyone who wants to actually buy/sell has to enter before the wall or there's no chance they actually get their order filled

since crypto is relatively anonymous, low volume, etc. walls are often made by whales with 0 intention of actually committing to the trade. they put their order comfortably infront/behind the current market price in order to drive the price in the direction they want. if the market actually reaches their wall, they cancel their trade.

this is called spoofing. it was made illegal after 2007 recession

This.

If you see whale walls, get out of the currency. This is the reason BAT was stagnant for months, because some whale believed in the tech and kept the price down so he could accrue $10 million.

I'd still get out even if the whale is on your side, because that can flip whenever they choose and stop profits dead in their tracks.

this is the current chart of ICX. Are you saying the coin is shit?

not shit, just manipulated

Buy walls drive the price to the wall which is lower. Sell walls drive the price to the wall which is higher. Retards on this board think big green walls are good.

same with ZClassic, the whales are surpressing the price under 200 so they can accumulate, when the fork date is announced and exchanges start to support Bitcoin Private fork, moon mission starts

You are the first person I've seen on biz who gets this right

so big red walls are good?

yes and no, if you see a big red wall and small green walls, it means the price is declining. if you see a small red walls and big green walls, the price is increasing, if you see small green wall and no more big red wallls, it means the price will go up. dont know if that makes sense to you but yeah

So if someone is driving the price of something you think will go up eventually isnt it time to buy when it hits that wall?

You guys are giving two different explanations. When is a green wall bad and when is it good? When is a red wall bad and when is it good?

you're not gonna make it.

are you two retarded

when a giant green wall appears on the orderbook it drives the price up because everyone who was waiting to get filled now has to move their buy orders in front of the wall if they want any hope of catching the market sells

god i swear Veeky Forums you are real fucking dumb sometimes

Green Wall is only good if it's at the end of a dip. That usually mean the price has hit its support and will rebound or stabilize from there.

One is saying big green walls are bad, the other is saying that green walls are always good as long as they’re bigger than the red walls. Not my fault they contradict each other.

Thanks. This is a better explanation.

If the green wall is at a price much lower than the current value, it means jack shit.

So ideally, you’d want a huge green wall at the current price and low red walls at the current price simultaneously? And you’d not want a large green wall far below the current price and a large red wall at the current price?

warosu.org/biz/thread/S2237688

Awesome, thanks man.