Ok I'm asking for a bit of help here to understand the Order book charts.
Here's what I understand, please feel free to point out where I'm wrong or what I'm missing.
- It appears that there are many more buyers than sellers
- There are some buy walls (if I can call them that) at 1980, 1966, 1929 which are points with a lot of buy orders ready to execute. But this does look like if the price starts to fall it will fall with jumps.
- For sellers there are no real walls, its just a steep slope upwards, eaming the price flucturation will not be very high in a upwards trajectory, it will rise smoothly.
Not sure how much help that information is, but it looks like its a indicator of short term movement / strength.
Also there seem to be buy orders worth total 60 BTC vs around 90000 BTC worth of sell orders, Does this seem right?
Am i Reading too much into it?
I would post an image but cant seem to get it to work.
Most of times when bitcoin price is raising or failling, altcoins drops.
For status, buyers and sellers are following the
https://yunbi.com/markets/sntcny big exchange volume.
When the price is moving high, there is more buyers then sellers, when it moving down there is more sellers then buyers.
Learn about strategies when the market is going down.
