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RE: BitShares (BTS) Revised Target to $1.83
It's designed to shake out weak hands. It will disappear when push comes to shove.
It's designed to shake out weak hands. It will disappear when push comes to shove.
Some more info on buy/sell walls. I believe some whale is trying to pick up a lot of BitShares before it hits or passes the $1 dollar mark.
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Moreover, large cryptocurrency holders, also known as whales, effectively manipulate cryptocurrency prices whenever they can. It is not in their best interest to let currencies break out above a certain level until they are accumulating. A sell wall is often an artificial oppression mechanism to keep prices well below the maximum threshold so the whales can buy up a lot of cheaper coins. If you have the money to manipulate a market, it is only to be expected someone will try to do exactly that.
However, contrary to what some people believe, buy and sell walls are not native to one trader specifically. Once larger buy and sell orders appear, it is only normal others will place their respective readers at that same price point. Moreover, exchanges will hardly ever create buy and sell walls on their own accord, unless it is subject to an existing agreement In most cases, such agreements pertain to an ICO where the developers will agree to buy back an amount of coins at a certain price.
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yep, that book looks bullish to me.
Hey Tony! Love your youtube videos : )