You are viewing a single comment's thread from:
RE: 1/15/2017 The Market View and Trading Outlook
Those big buy orders are likely institutions picking up what, for them, are relatively small pieces of BTC. Sell walls are probably early adopters looking to buy a beach house.
As you point out, it’s basically a coin toss, but the bullish above, bearish below, line is clear enough, so at least we know where to put stops. The question is whether everyone else is also putting their stops at the same level and what waterfall effect could develop if triggered.
It also pays to keep in mind where this is happening in the larger context. 😉
Very very true.. I would imagine the $12,000 -$12,400 level would see some major stops opening up and a waterfall of interesting proportions. It hit or miss at the moment, with just a few percentage points inclining it to the upside.. also if you do go south, there are going to be a ton of disgruntled buyers that will be tired and sell off fast and in a big way.. This correction has been pretty brutal for some.. so it it will be interesting to see which way it goes. Looks like we get to test is again, and with each test it weakens.. very interesting..