Hi, I have no idea if there any ex pro traders here, It could be nice with some tips.
The big traders don't show their intent by having big orders on the book. So big walls are almost always fake.
They have their target price and buy small chunks below a certain price. When they got enough coins they put up a buy wall to drive the price up ad as the price rise, they put up a new wall at a higher price.
When they gained enough, they start selling, not in one big dump but little amounts not to scare anyone.
In the end they either dump a lot to drop the price down to their buy order exactly, or they put up sell walls to drive price down.
The buy orders value here down to $11.75 is 80.000BTC but I'm pretty sure that 20.000 of them are fake.
So the big trader uses bots to manage his simulated walls and moving them around to make it look like there are nervous buyers or sellers, by moving orders closer to the current price. The instant he chooses to "break out" of a price range his fake orders are cancelled instantly and the small traders left get wiped.
Last year we had more volume and the market had a more natural feel to it. Look at any other traded stock or currency, and you notice that the higher volume in real world exchanges cancel out any individuals manipulation so you easier can do trend analysis.
This is ofcause no reason to be scared away from trading, but eventually you will discover that you are not speculating against the combined consiousnes of the traders, but against the market maker. It's more like a chess game where you try to think 2 moves ahead and take advantage of his plan.
Maybe this is not special to Bitcoins but I Don't have any other trader experience.
You learn a lot here that's for sure and when you close a trade up 5 or 20%, you feel like Michael Douglas because you just made $70 :