/biz/ - Business & Finance

>>6660214
dont pay attention to the order graph, for example that whole sell wall can go away in 1 second. It means nothing.

X is price
Y is volume

>>6660245
Came here to post this

Buy and sell walls are fickle and meaningless

>>6660214
It's telecoin which was shilled in another thread. Don't buy. There are people with massive amounts of it bought at sub 10 sats ready to dump on fools

>>6660214
i'm also a newfag. can someone point out the actual sellwall(s) on the chart
are they literally the verical walls eg 1 right at the beginning of the red and one right after 2 sats?

red = monster
green = you

monster eats the image

Appreciate the responses.

>>6660245
>>6660321
God damn it I've been sitting on a useless coin watching it go down because a bunch of people kept going on about the sell walls

I usually look at all the buy/sell orders and find the ones with 1 or more BTC worth of a purchase. Then i buy at little higher then the wall...or sell.

>>6660214
Red = jews

sell walls can be put up by whales because they know the volume Isnt moving fast enough for a jump in the price to eat through their sell wall. it's a subtle way to force a coin to not grow. it's basically a trick by whales so they can keep buying a coin at a low price. Once they have enough they can take out their sell orders and let it flourish and then they start slowly selling their stack. Whales play an entirely different game. Any low volume coin / pair is being manipulated guaranteed.

>>6660398
It's the red mass, it can have some effect of keeping the price temporarily down, as there's a lot of "cheaper" coins for sale, that means until those are sold, the price won't go above the cheaper coins price. At least in theory, given enough demand, the walls can go down in seconds.

>>6660838
aka BNTY the past 2 weeks fucking us

>>6660214
Prepare to get JUSTed

>>6661226
so how many sell walls are in OP's pic? you're saying they're the 2 red masses being divided by a vertical line right after 2 sats, or just this whole fucking red blob? for some reason it's not intuitive at all to me looking at this chart. probably because i'm a brainlet

>>6660214
>I am still learning how to read these
everyone says this (>>6660277), but that's wrong. if Y was volume the graph would be jagged with peaks where the orders are
it's actually this kind of graph:
https://en.wikipedia.org/wiki/C%C3%A0dl%C3%A0g

X axis is the price.
Y axis is actually CUMULATIVE volume, starting from the center of the graph.
This means in the places where the graph is horizontal, there are very few orders.
In the places where the graph is vertical, there lots of order at that price.
Where the graph is diagonal the orders are spread uniformly.

tl;dr
if you want to judge how many orders are placed at a certain price range, look at the SLOPE of the chart at that point.

>>6661430
I should've explained a little bit better. The red-mass are actually sell-orders for certain price. Naturally (that means without market manipulation), they should form nice stairs (look like real stairs viewed from the side). However, when there's a manipulation going on, they form either a single high wall (think a castle wall meant to keep people out) or multiple large walls that DON'T look like stairs. Word on 4chan is that these are being placed by people wanting to keep the price low so they can accumulate more coins while they're cheap.

I'm not sure if this classifies as a single sell-wall or two sell-walls, because I don't think there's an explicit definition of a sell-wall.