Bitcoin still looking bearish during the holidays - page 2.

bitcoindata21

copper member

Activity: 23

Merit: 3

Quote from: dimonstration on December 30, 2022, 02:11:33 PM

Do you try to compare the liquidity on all the orderbook of different major exchange to established a conclusion?

Having a thin orderbook usually imply that there’s less traders during holiday but that doesn’t mean the price will dump since there’s no big movement on either side. I really want to see same analysis with comparison on multiple exchange orderbook liquidity. This is a good basis to determine if there’s already a trend built-up or the thin orderbook just a result of the CEX reputation itself like what happened on Binance which user remove there balance due to fear on losing money.

yes if you look at the video i have compared all the main exchanges and i also change the order size for each chart to make it more clear. this leaves only the orders that correlate with price reversals with support/resistance. most of the time price does reverse. occasionally the price can break through with volatility but with risk management this is not a problem

dimonstration

hero member

Activity: 2562

Merit: 659

Dimon6969

Do you try to compare the liquidity on all the orderbook of different major exchange to established a conclusion?

Having a thin orderbook usually imply that there’s less traders during holiday but that doesn’t mean the price will dump since there’s no big movement on either side. I really want to see same analysis with comparison on multiple exchange orderbook liquidity. This is a good basis to determine if there’s already a trend built-up or the thin orderbook just a result of the CEX reputation itself like what happened on Binance which user remove there balance due to fear on losing money.

Welsh

staff

Activity: 3248

Merit: 4110

Not sure they're using the holiday low liquidity I'd say it's more the recession that's basically looming. We've already had record breaking increases in inflation, and obviously what comes with that is higher prices for everything, thus lower investment potential. People are struggling to clothe, and feed themselves let alone invest in Bitcoin which has shown the potential to swing from one extreme to another.

That's the real reason; I don't think its whales looking to push the price down. It's simply because there's less buying power due to the fact that everyone is skint right now, and have higher priorities.

boltz

legendary

Activity: 3164

Merit: 1187

Without a doubt!

The entire market is still in a heavy bear trap and I don't see anything to change in the coming months so don't be surprised if we gonna see Bitcoin under 16k until new year comes or even during the day. I also remember well that whenever we had a crossing between years and Bitcoin was in bear market , it always dropped in price at 12:00 and the next day as well so this might be just another situation like that.

Meanwhile , take a break from Bitcoin and cryptos at least for 2 days and enjoy your time with your loved ones. Kiss

bitcoindata21

copper member

Activity: 23

Merit: 3

Quote from: yhiaali3 on December 30, 2022, 12:50:21 PM

This behavior is expected, it is normal for whales to try to push the price down to get Bitcoin at the lowest prices, especially during the festive period when the movement is almost at a standstill.

But the question is how far will they continue to push the price down? This is not clear.

In any case, for the long-term investor, this is not important because he set a goal and will not sell before achieving the goal. As for the speculator, he must be careful and stay away from the market in the current period, at least until the beginning of the new year, when some movement is expected in the market.

I am a long term investor, but i speculate aswell to maximise my accumulation. I'm sure there are many like me, not everyone being either an investor or trader only.

bitcoindata21

copper member

Activity: 23

Merit: 3

Quote from: Tytanowy Janusz on December 30, 2022, 12:42:29 PM

Quote from: bitcoindata21 on December 30, 2022, 09:44:00 AM

Looking at the orderbook, the whales are trying to push the price down, taking advantage of low liquidity during holiday times, especially on coinbase

My latest video goes through each exchange to see where and how the price is being pushed around

What part of this orders are spoofing?
What part of this orders are waiting arbitrage orders and will disapear when price will get closer?
What part of this orders are just orders form marketmakers?

Don't you think that looking at this indicator gives you same information as traditional TA but is far more disturbed/blurred by false data?

Good questions, that is not the conclusion i've come to at all. Combining many exchanges doing the same thing usually gives me strong confluence. The only thing i've found that counteracts my orderbook bias is either strong stock market moves and/or strong market buying/selling

Obviously some are spoofing, but that doesnt mean they dont work. Human nature is easy to manipulate, so the same patterns happen again and again including effective spoofing or other whale strategies. Like i said, combining all the exchanges usually provides a clearer possibility. Right now more are bearish than bullish

yhiaali3

legendary

Activity: 1680

Merit: 1853

#SWGT CERTIK Audited

This behavior is expected, it is normal for whales to try to push the price down to get Bitcoin at the lowest prices, especially during the festive period when the movement is almost at a standstill.

But the question is how far will they continue to push the price down? This is not clear.

In any case, for the long-term investor, this is not important because he set a goal and will not sell before achieving the goal. As for the speculator, he must be careful and stay away from the market in the current period, at least until the beginning of the new year, when some movement is expected in the market.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

Quote from: bitcoindata21 on December 30, 2022, 09:44:00 AM

Looking at the orderbook, the whales are trying to push the price down, taking advantage of low liquidity during holiday times, especially on coinbase

My latest video goes through each exchange to see where and how the price is being pushed around

What part of this orders are spoofing?
What part of this orders are waiting arbitrage orders and will disapear when price will get closer?
What part of this orders are just orders form marketmakers?

Don't you think that looking at this indicator gives you same information as traditional TA but is far more disturbed/blurred by false data?

bitcoindata21

copper member

Activity: 23

Merit: 3

Quote from: ?? on ??

Some of the whales you think are bearish will soon be bullish, the downtrend in price that you are noticing could be what would start the next bull run. The price is low already, just buy and forget until the the price rise, 1 bitcoin is 1 bitcoin.

I continue my weekly DCA.

Lol its got nothing to do with what i think, i'm simply showing the orders and liquidity that affect and move price. Good for you if you want to DCA, its pretty obvious thats not what i'm talking about.

bitcoindata21

copper member

Activity: 23

Merit: 3

Looking at the orderbook, the whales are trying to push the price down, taking advantage of low liquidity during holiday times, especially on coinbase

My latest video goes through each exchange to see where and how the price is being pushed around

https://www.youtube.com/watch?v=x78YQP-FxyM

Topic: Bitcoin still looking bearish during the holidays - page 2. (Read 216 times)