Quick Thoughts on $BTC
So Capo posted this chart,
I always say, when everyone is watching the market and people are ready with their limit orders to get sniper entries, market mostly play with them.
For example you are waiting for #BTC to hit $60,000 so you place buying order at 60,500 or $61,000 with 50X-75X or higher with liquidity at 59,000 or 58,000. Market will go to eat your position, by hitting your liquidation. In other case when your liquidity is way down or not being shown on the map, market will probably move before hitting your buying order,
What to do?
Best is to analyze the heat map, understand the liquidity, try to understand where most of the orders are place, put your order above them,
If you want to get something out of it, you can’t play with 0risk,
I hope this post can clear basic mistakes we make while playing on booking orders, #dyor
Chart credit, Capo
