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RE: Why Bitcoin Could Fall Lower From Here
checkout stop loss orders
I saw quit a bit of buy order volume in the order book at 13,500 but was surprised it went down lower when I didn't see much sell in the order book.
Now it is back up to 14,000. I wonder where the sells come from because I don't see them listed as limit orders. Maybe there is software that monitors this stuff for people and places sell orders when there is a spike to keep the price from dropping too far.
There's all sorts of algos doing the buy and sell for whales, they usually work on the RSI up and downtrends, they are programmed to mind typical resistance and support levels and profit form them
I suspected something like that was going on. I did some work in C++ on a match server and I know how easy it would be to do that type of thing - but you have to know what you're doing as an investor to code successful algorithms.