Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
ChartBuddy's 24 hour Wall Observation recap
In my amateur Probably Obvious Opinion on Wall Observation: Often large ask walls on the right, are not scared people wanting to sell a load of BTC.
Oh no. They are convincing foolish others who do want to sell (or sorry if you need to sell right now) to set their asks below the wall price. Otherwise it'll never sell, right?
Thus providing cheaper corn for all who can harvest. But, as noted above, the wall can only last so long.
In my amateur Probably Obvious Opinion on Wall Observation: Often large ask walls on the right, are not scared people wanting to sell a load of BTC.
Oh no. They are convincing foolish others who do want to sell (or sorry if you need to sell right now) to set their asks below the wall price. Otherwise it'll never sell, right?
Thus providing cheaper corn for all who can harvest. But, as noted above, the wall can only last so long.
in the past we noticed, that most of these walls disappear before they get eaten. so these individuals don't really want to sell bitoin, they use these walls as a kind of tool to suppress the price for a period of time.
thanks for these gifs. looks cool how the wall suddenly appears
Yeah, that's likely an "intimidation wall" to trigger panic reactions like "oh no! Bitcoin is going to crash at insert_wall_ask_price_here !!!"