Topic: what happen here?! (Read 194 times)
Well, it really happen and it is not a mistake as you may think. They already explained it. It won't affect the price if the sell order doesn't have huge volume that can affect the price as it only happen on an exchange that situation happen where as in other exchange is trading as it is normally. Anyway, the post above already explained it.
altcoin market have small trading pairs and it is easy to change with one big order that can change the price of all open orders on the market. it is often happen if you use market order or have some open order for that coin.
It will happen a lot, not always, and it does not last for a long time. be careful that you have many open orders that buy according to a certain condition.
It will happen a lot, not always, and it does not last for a long time. be careful that you have many open orders that buy according to a certain condition.
Even it's quite blurred I saw a big downward stick which indicates a huge amount of selling point by that, of course, some people will grab the opportunity to buy at the lower price, and again as OP told it looks like a 1-minute chart this is the time where the place order and candles stick active. If you are an investor you will grab the opportunity to buy those coins at the lowest price so you can get a good position to hold or to buy it's normal on the market.
bot mistake? human mistake in sell order price? or? it is 1minute chart and it was very fast. just want to learn what is behind it based on experienced traders
it is not a mistake. Someone make big sell orders on an exchange that has the lowest volume than some other exchanges on the same coin. He filled all open buy order there, and dump the price on this exchange at the moment. but it's not enough on the global market to significantly affect the price. it happens occasionally.
edit: something like this
bot mistake? human mistake in sell order price? or? it is 1minute chart and it was very fast. just want to learn what is behind it based on experienced traders
It's hard to say because the screenshot does not show the trading volume nor the crypto currency it concerns. Usually this happens on coins which have low volume where you can use little amount of capital to pump or dump a coin.
bot mistake? human mistake in sell order price? or? it is 1minute chart and it was very fast. just want to learn what is behind it based on experienced traders
You really can't tell what happened just by looking at a price chart, but here is my guess:
Someone placed a large market sell order that was followed immediately by someone placing a normal market buy order. The ask side was quickly refilled and trading continued normally.
that is exactly what I was thinking - to set up "unrealistic" buy orders to buy when something like this happen.
I'd not say it unrealistic, since a big sell could cause it regularly, especially if there's a low volume as mentioned above. I personally see it regularly on low market cap coins where people try to enter and exit asap because people swing trade from time to time. In addition to that, a problem with exchange liquidity also can cause this issue to happen.
@BIN-BIN
here you go
https://www.livecoinwatch.com/price/BitpandaEcosystemToken-BEST
@TheBeardedBaby
that is exactly what I was thinking - to set up "unrealistic" buy orders to buy when something like this happen.
here you go
https://www.livecoinwatch.com/price/BitpandaEcosystemToken-BEST
@TheBeardedBaby
that is exactly what I was thinking - to set up "unrealistic" buy orders to buy when something like this happen.
Big sale at market's price is what can cause this to happen. I don't know what coin you are talking about but this kind of sells are happening from time to time. There's a phrase: "catching falling knives", you set a buy limit order much below the price with the hope that some whale will market sell and fill all the buy orders all the way down to your one. This often happens for a few seconds where you have a big liquidity, of course it depends what coin and liquidity.
The picture is blurred and I can't see the bet number clearly, maybe you should upload a more clear picture. I can only see the broken chart activity which is action familiar with both.
bot mistake? human mistake in sell order price? or? it is 1minute chart and it was very fast. just want to learn what is behind it based on experienced traders
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