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RE: I messed up a great Bitcoin trade this morning!!! Grr..

in #dtube7 years ago (edited)

I have a theory about the large buy and sell Walls close to the current price both being owned by the same whale. I watched for Litecoin for 3hrs between $55 and $58 with a wall of 3,000 orders 4% over current price and 2% under current price. Both walls seem to move slowly up or down with the current price. They would move a couple cents especially if I placed a large buy order just above theirs. Seems like maybe they see a spike in volume and they hope for someone with a large single order to panic sell or Panic buy at market driving the price for a quick Spike down or a quick Spike up either one would benefit them because they could slowly sell off or by back closer to the current but seemingly stable price? This would have to be automated in order to work. And with as much as kraken is non-functional it's hard to believe it would work at all on this Exchange. I can't see how this strategy could help when the price is moving quickly unless you're on a responsive Exchange and you start moving your walls much further from the current price which could be an option built into the bot. Watching the size of the transactions that are actually going through is definitely helpful because it tells a much different story then giant price dodging walls.

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