Quick Trading Tip- Sell Walls
Something very important to look at when trading are the buy and sell walls. Before placing a limit or market order, it's important to look at how the action is being placed on the specific crypto from a macro level.
Look to the right side of the image. Advanced section of binance shows 8 decimal places on the order list. A quick and easy tip is to filter down to 5 decimals. This groups the sell and buy orders into a more macro view of how the asset is trading.
As you can see, XVG/ETH has a favorable buy position and that shows us that this asset may increase in the short term.
Switching over the to 'depth' section of the graph view, you can see a qualitative view below:
Notice the very large green buy wall versus the smaller red sell wall. To me, this reads bullish and I anticipate this crypto to rise considering all factors are equal.
Legal Disclaimer: This is only my opinion, make of it what you wish. This means that it's not advice or a recommendation to either buy or sell anything! It's only meant for use for entertainment purposes. Do your own research!
I still have a lot to learn, but thank you for sharing what you have learned! I'm planning on reading a lot of your posts :)
Thanks for the nice comment. I'm here to help as much as possible. Look forward to interacting more!