How to identify Fake Buy/sell Walls when trading Crypto !!!

🔴 Identifying Fake Buy/sell Walls

📌 Either you do day trades or holds short term positions, you have to play smart.
📌 Understand that there are whales that have the ability to manipulate the markets.
📌 Whales are traders with huge volume that can put a buy or sell order at a certain position that is large enough which is unlikely to be filled.
📌 They can set the floor and ceiling for price movement.
📌 Fake walls can be identified by their tall appearance.
📌 They typically don’t have any sort of price runway and are usually placed as either the lowest sell order or highest buy order on the exchange.
📌 The reason we call these fake walls is because the trader that placed the order has the ability to remove it at any time and cause dramatic price movement.
📌 In other words, the sentiment is fake and there is no real market support.
📌 For fake buy walls, the whales place large, un-fillable orders that mimic high positive sentiment for the currency.
📌 Whether intentional or not, the walls give novice traders a sense of confidence that their position will hold and lead them to believe that the current price point is the new floor.
📌 As a result, buy orders start appearing above the wall.
📌 Nowhere to go but up, right? Wrong.
📌 The whale can pull the wall at any time and if the whale’s order made up the bulk of buy orders, the price can shift in the opposite direction.
📌 Traders that bought above the whale’s position can get burned and lose their capital.
📌 Same applies to fake sell walls.
📌 Whales can place large, un-fillable sell orders in an attempt to hold the price down and purchase the currency for cheap.
📌 Once they get their fill of coins, they can easily pull the order and cause the price to launch up if the sentiment was generally positive aside from their order.
📌 This is how the whale wins by tricking traders into selling cheap coins.

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