Buy/sell walls

[Anonymous No.2237688]

What's the point of these? Is this someone with a lot of money and coins in that market who just wants to make the bid price go up? How does that even work?

[Anonymous No.2237726]

Also interested OP

[߷ !SPIN6yJzoU No.2237736]

>>2237688
being able to read the level 2 is one of the most important skills a trader can have

[Anonymous No.2237746]

>>2237736

Price on this coin is now surging so my guess is it's a whale that's trying to cash out but wasn't happy with the original bid price? Is that correct?

[߷ !SPIN6yJzoU No.2237763]

>>2237746
when you see a giant big like this its either a strong support level or like you described its a smoke and mirrors attempt to push the price up (probably stealth selling on the rise)

i find it useful to watch not just a snapshot of the level2 but also to be aware of its 'movement'

like if you see a bid wall like this being gradually stepped up higher and higher you know it is an active trader trying to make moves and influence htings. if the bid wall is just sitting there and has been there for days or whatever then its obviously a support level and an actual guy who wants to buy

[߷ !SPIN6yJzoU No.2237767]

>>2237763
bid*

[߷ !SPIN6yJzoU No.2237782]

>>2237763
often you will notice the giant bid immediately get cancelled as soon as someone starts selling into it

they dont really want to buy here, they just want to give that illusion. they are willing to let the price drop more before getting in.


the same thing is true with sell walls by the way

people trade based on these orderbook shapes so you need to be aware of them

[Anonymous No.2237789]

>>2237763

It's a 20 BTC wall in a 60 BTC volume that's being actively moved.

[߷ !SPIN6yJzoU No.2237792]

neutral shape

[߷ !SPIN6yJzoU No.2237822]

>>2237792
buying pressure

selling pressure

[߷ !SPIN6yJzoU No.2237845]

>>2237822
I call this a defensive curl

usually seen after a massive drop

[Anonymous No.2237859]

>>2237688
BUY u motherfucker it is about to pump

[Anonymous No.2237862]

>>2237792
>>2237822
>>2237845
Good stuff, friend. Thanks.

[Anonymous No.2237869]

>>2237688
Psychology.

[Anonymous No.2237893]

Going by all this, what would you folks have to say about the XLM chart/order book combo?

[Anonymous No.2237895]

>>2237688
those mean nothing. those are orders, not positions so until they are executed, the people that put those up can simply delete them.

there was a pajeet a couple of years ago that did just that with the spy from his parent's basement in london.. the US pinned him for the flash crash. look it up.

[߷ !SPIN6yJzoU No.2237898]

>>2237845
this one is called the lone buyer

very dangerous to buy with this guy

[Anonymous No.2237899]

>>2237688

It's probably a number of people that got left behind on the lowest ask, as it shifted up.

[Anonymous No.2237932]

>>2237898
Why?

[߷ !SPIN6yJzoU No.2237940]

>>2237932
because of how flat the green is behind his order

he is not reading things properly and if he gets filled or cancels you can expect a drop all the way through the flat zone to where its "supposed" to be

[Anonymous No.2237955]

BUY BUY BUY COVAL BUY BUY BUY coval

[Anonymous No.2237962]

>>2237940
So how does this graph works exactly? is it volumes of buy and sell bids clashing together? green is goes up and red down? i'm retarded

[Anonymous No.2237964]

What is the site you use to see the graphics of dip and ask?
>>2237898

[߷ !SPIN6yJzoU No.2237989]

"touching walls"

this one requires a look at the recent price movement on the chart

it has definitely either run up or been slammed down. now the bid or the ask is being stacked. These are deciding moments.

strong chance of breaking through the wall and continuing the run's momentum

[Anonymous No.2237995]

>>2237859

I've been holding this for over a week... I'm waiting to dump.

[Anonymous No.2238012]

>>2237989
this one should be named as the clash of kamehamehas, a battle of pushing power

[߷ !SPIN6yJzoU No.2238013]

>>2237962
the x axis is price

the y axis is order volume

so on this picture >>2237792
if I put a buy order of 100 BTC at 2200 you would see a sharp vertical rise at that point like pic related.

[߷ !SPIN6yJzoU No.2238023]

>>2237964
pretty much every crypto exchange shows this these days

often it is called the "market depth"

[Anonymous No.2238112]

Thanks Mr. Spin, I learned a lot from this thread.

[߷ !SPIN6yJzoU No.2238121]

I dont think im making much sense anymore

[Anonymous No.2238161]

>>2238121
Well it is certainly interesting to see interpretations of these depth formations. Informative - ty anon!

[߷ !SPIN6yJzoU No.2238187]

thats all i got cheers guys

[Anonymous No.2238191]

>>2238187
Thank you. I learned a bit too.

[Anonymous No.2238198]

>>2238013
>>2238121
Really appreciate these posts, thank you for the answer

[߷ !SPIN6yJzoU No.2238207]

>>2237964
i recommend cryptowat.ch desu its my favorite

[Anonymous No.2238212]

>Informative thread with an interactive OP

Too good for /biz/.

[Anonymous No.2238216]

>>2237792
>>2237822
>>2237845
>>2237898
>>2238013
>>2238121
All of these are consistent with my own observations. Thanks anon, it's heartwarming seeing someone providing actual advice instead of shilling and FUDing. And it's not like fucking /biz/ can move the market on its own, so yeah, may at least a few 4channer brothers achieve financial freedom.

[߷ !SPIN6yJzoU No.2238223]

>>2238212
i wasnt OP but I hijacked the thread

[Anonymous No.2238236]

>>2238223
Shit you're right, didn't notice that. Good job anyway.

[Anonymous No.2238306]

>>2238187
thank mr spin

[Anonymous No.2238388]

>>2238187
Yo, anon. What type of curves are the best to look for?

[߷ !SPIN6yJzoU No.2238390]

>>2238388
i like this type

[߷ !SPIN6yJzoU No.2238404]

>>2238390
sorry i dont have a real answer

youll figure out what works for you im sure

[Anonymous No.2238451]

>>2238223

OP is still lurking btw.

[Anonymous No.2238500]

what the fuck am i looking at

red is bad, green is good?

red is sell, green is buy?

i have no fucking clue what these charts mean and ive been lurking here for months

[߷ !SPIN6yJzoU No.2238529]

>>2238500
its the orderbook man

its the market depth, a visual representation of the level 2

see the order book on the left? those are the current limit orders placed on the exchange.

the depth chart is graphing those orders into a cumulative volume representation

[Anonymous No.2238574]

>>2238500
The areas of the chart represent the sum of all orders at a given price. The red area represents sell orders, and the green represents buy orders.. The prices are found on the x axis and the sum of orders at a given price is on the y axis.

[Anonymous No.2238615]

>>2238529
What exchanges are best? I got an invite to GDAX.

[߷ !SPIN6yJzoU No.2238684]

>>2238615
"best"
theres a lot of factors that go into this answer, like where you live, what currency you use, what you are interested in trading...

i can give a quick rundown on a couple that I use

>GDAX
+safest US exchange.
-limited functionality (Better functionality than Gemini though, the other "safe" US exchange).
-no access to shitcoins
-no ability to short
-site often (always) goes down during high volume crashes

>Poloniex
-risky business exchange, uses USDT instead of real dollars and just gives off a sketchy impression to me
+offers lots of shitcoins
+nice layout with functionality
-runs like shit sometimes

[߷ !SPIN6yJzoU No.2238692]

>>2238684
actually correction i think you can short now on GDAX if you have access to margin trading

[Anonymous No.2238709]

>>2238692
what exchange are ur screencaps from based anon?

[߷ !SPIN6yJzoU No.2238719]

>>2238709
GDAX

[߷ !SPIN6yJzoU No.2238750]

>>2238692
i just tried to apply for a margin account on GDAX to see if I could start shorting but apparently you need to be a bank or a fucking millionaire to check one of these boxes

[Anonymous No.2238830]

>>2238750
Not a problem my man, have you heard of Moon coin?

[߷ !SPIN6yJzoU No.2238861]

>>2238830
get away from me you filthy bagholder

[Anonymous No.2238863]

Im starting to like this tripfag....

[߷ !SPIN6yJzoU No.2238868]

>>2238863
you can find me every day in the robinhood general thread

[Anonymous No.2238876]

>>2238861
I was joking you rude bitch.

[Anonymous No.2238877]

>>2238868
u daytrade penny stocks? What goes on in the robin hood thread, i never been

[߷ !SPIN6yJzoU No.2238882]

>>2238877
its stock trading general thread basically at this point

penny and grandpa stocks both

[Anonymous No.2238900]

>>2238868
You into crypto now as well?

[Anonymous No.2238907]

>>2237688
When you have a huge buy like that, you ask a lower price.

Its basically ordering in bulk. If you sell computers and someone comes into your shop and says he wants to buy 10,000 computers, you give him a better price/computer than if he just wanted 10.

So these huge buy ins set a lower price because a 5% lower price can mean thousands and thousands of dollars saved.

And then they sit and wait. The other buy orders see this wall and quickly scramble behind it. The sellers see these wall and go "ugh no way I can overcome that" and give in slowly, which drops the price and just like that, the buyer gets what they wanted.

Its in the other buyers interest to cooperate since it lowers the price overall. And once that happens the sellers all know if they dont move, someone else will and once that happens the price will start moving down.

[߷ !SPIN6yJzoU No.2238917]

>>2238876
oh uh i was joking too s-sorry

>>2238900
for like a year now yeah
>why didnt I just buy and hold...

[Anonymous No.2238921]

What does this mean?
It's not quite neutral, yet not quite large walsl either.

[Anonymous No.2238924]

>>2238917
apology accepted, little lady.

[߷ !SPIN6yJzoU No.2238926]

>>2238921
too smoothed out, hard to read
what site is this?

[Anonymous No.2238934]

>>2238926
those are bittrex charts

[Anonymous No.2238938]

>>2237763
>its a smoke and mirrors attempt to push the price up
Bots.

[Anonymous No.2238953]

>>2238926
Don't know if you noticed but at double digit satoshi, that would make sense. There aren't a lot of data points in the range of this chart.