Bitcoin buy orders are >90% of the market for the first time since March 2017

TheQuin

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Quote from: hugeblack on April 20, 2018, 08:37:27 AM

The 100 SMA & 200 SMA standards are better to know if the price will rise or not.

That's a hotly contested matter of opinion. I would side with those traders who would say that the only thing a moving average is good for is showing a lagging picture of what happened in the past. Watching order flow will give a good idea of what is happening now (the stat in the OP is a small part of that picture). But nothing can tell you for certain what is going to happen next.

hugeblack

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I do not know if this is news true or not, but this is not a good way to see if the price will rise or not.
The 100 SMA & 200 SMA standards are better to know if the price will rise or not. Plus news plays an important role in that.
Just follow the news and charts and you will have a better view.
about transactions, it’s easy to be spammed example: https://blockchain.info/address/1HmixPDLTcVSqiyne2JFLj1F1hKVmpC1pU

mk4

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Could just be market manipulation though, a single exchange account could possibly put up multiple(probably hundreds? depending on exchange limitations) buy offers. We cant say for sure if this is organic demand or just manipulation.

Guvn0r

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Ninety percent of the all the orders on exchanges are people trying to buy Bitcoin & ten percent of all orders on exchanges are people trying to sell.
Effectively 90 people are trying to buy 10 people’s worth of Bitcoin. Indicating there is more demand for Bitcoin than supply.

This is also an indicator of market sentiment among those who are buying and selling Bitcoin.

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Topic: Bitcoin buy orders are >90% of the market for the first time since March 2017 (Read 116 times)