šØPro tips must read
Today, I'm going to show you a secret that every pro trader monitors daily ā the Order Book š. Take a close look at the screenshot.
ā Left Side (Green) ā Bid Side
This is where buyers place their orders. As you can see, at the very top, there's an order to buy 850,988,595,735 BTTC at a price of 0.0000008. This indicates how far buyers are willing to go to push the price up.
ā Right Side (Red) ā Ask Side
This is where sellers are ready to sell their coins. At the top, you can see an order to sell 450,141,400,957 BTTC at a price of 0.00000011. This creates a resistance zone.
āØ What Does It Mean?
The more liquidity there is on the bid side, the stronger the buying pressure. And when there are heavy sell orders on the ask side, the price might pause or even drop at that level.
Check the order book daily. If the bid side suddenly becomes thin, it may signal an upcoming dump. On the other hand, if large sell orders on the ask side start disappearing, the price could shoot up quickly!
The order book isn't just about numbers ā it reveals the live sentiment of the market!
Do you use the order book when building your trading strategy? Share your experience in the comments below!
#MarketPullback #SaylorBTCPurchase #EUPrivacyCoinBan #TradingCommunity #Write2Earn
Today, I'm going to show you a secret that every pro trader monitors daily ā the Order Book š. Take a close look at the screenshot.
ā Left Side (Green) ā Bid Side
This is where buyers place their orders. As you can see, at the very top, there's an order to buy 850,988,595,735 BTTC at a price of 0.0000008. This indicates how far buyers are willing to go to push the price up.
ā Right Side (Red) ā Ask Side
This is where sellers are ready to sell their coins. At the top, you can see an order to sell 450,141,400,957 BTTC at a price of 0.00000011. This creates a resistance zone.
āØ What Does It Mean?
The more liquidity there is on the bid side, the stronger the buying pressure. And when there are heavy sell orders on the ask side, the price might pause or even drop at that level.
Check the order book daily. If the bid side suddenly becomes thin, it may signal an upcoming dump. On the other hand, if large sell orders on the ask side start disappearing, the price could shoot up quickly!
The order book isn't just about numbers ā it reveals the live sentiment of the market!
Do you use the order book when building your trading strategy? Share your experience in the comments below!
#MarketPullback #SaylorBTCPurchase #EUPrivacyCoinBan #TradingCommunity #Write2Earn
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.Ā See T&Cs.
BTTC
0.00000072
-4.00%