This is not about TA. This is about physics.
The buy wall has been pushed back to the point that it can retreat no further without forcing pressure upward.
There is not enough sell volume to take the price down without millions in buy orders bieing pulled.
It would take over $30 million to bring the price down from 7K to 6K, assuming there were not even any buy orders.
The price will stagnate in this range before going up because it cannot go down anymore in the short term.
Gonna screencap this for later
...
... Until Wall Street collapses and obliterates crypto on the way down
Who the fuck doesn't have $30 million?
What if pro-BCH miners want BTC to go down
What if pro-BCH miners have hundreds thousands of BTC
What if hundreds thousands of BTC are worth billions of $
What if billions of $ are worth more than $30 million
What if you still haven't realized this is going all the way down
when will you new faggot fucks realize coinbase has virtually no influence on the market with its low volume. jesus christ how fucking dumb can you all be.
1D candle show a reversal but pretty sure it's going to dump to 5k tomorrow.
you cant come to conclusions about price based on buy walls
Then they will have to do it all at once, which begs the question why haven't done it already.
If the whales who certainly have the volume to take everything to 0 were going to they could have done it within minutes of dropping from ATH.
They can still make it go down with sustained assault, but for the near term high 5 to low 6K is the floor.
>he said 30 million
> GIVE HIM 90!
What
No it doesnt
Infact looking at that 1d candle how the fuck have you even come to that conclusion?
what if i told you the orderbooks are 100% manipulated and it could go down to $1 in a nanosecond if (((they))) commanded it?
you can when they become vertical with nowhere to go but 0.
They've been doing it for a while, little by little, they don't wanna make it obvious it's all manipulated
>order book analysis
LMAO
Is this the new TA?
That chart is showing limit open orders on GDAX. People could close their orders at any second (and create new ones). It doesn't guarantee anything.
They aren't 100% manipulated, just 99.9%
>order book TA
sigh
I literally do this every day
haejin predicted this as well. I hope 6k holds.
OP, what are stop losses?
What are margin positions?
What are market orders?
They not represented on your orderbook but they are the biggest part of the iceberg.
you do realize that the chart is actually very bearish, right? it shows sellers aren't bothering to bid against each other, they're simply dumping into buyers
the lack of sell orders at higher prices also means sellers have been giving up and are again, dumping on buyers
>graphical order book obeys the laws of physics
Heavy sigh
Posting the same pic since 12k, top fucking kek, no one is buying your bags.
just sit back and watch faggot
this isnt a buy wall at 15k with room for thousand dollars drops in a day. This is the bottom. Every dollar is going to be fought for fro this point.
yea well i said short term didn't i prick
who cares fag, shorting bitcoin with 3x leverage now. This shit is going to 0
people place fake buy orders all the time
Show me the positions of everyone's stoplosses and I'll have actually gotten something out of this thread
you my friend clearly have no idea, literally nothing about that daily candle indicates a reversal.
However being a reasonable guy please let me know why you think it does.
there have been walls like this for every single big number between 16k and here and its crashed through them all.
is this your first day?
This. OP is just a delusional HODL buttcoiner faggot. Those buy orders could be stop losses for shorts or they could only be just book orders if price reaches that level. Hell, they coulf only be temporary orders from bots that only last nanoseconds. It could be anything.
30 million is nothing.
This