ETN Technical Analysis Society


#1235

Probably been answered before but who puts up these constant sell walls? If coin owners want to maximise ROI then surely they would either remove the coins from sale or put them up at much higher sats, or do some people only want to make a teeny few %

Am I being too simplistic?


#1236

exactly. some whales trying to keep the price down for some unknown reason


#1237

Trading is dominated by bots using algorithms based on many indicators. Those walls are not typically created by people directly. I’m sure some of it was created by people directly, but I’m sure most of it was done by bots. If the volume picks up and hits a specific number with a specific volume (or higher), you will see those sell walls magically disappear.


#1238

Sounds plausible but why would the bots not remove the sell walls to let the price increase substantially. Then the bots can start selling again, having made much higher margins. Presumably all to do with the way they are programmed!


#1239

Bot are not programmed with emotion. They base sells walls on mathematics. In order for them to trigger a higher sell wall, the mathematical variables they use need to be changed. So far, we obviously have not hit the variables they use to trigger mathematical changes. But if we keep pressing through that sell wall, we will 100%


#1240

Maybe we should form a “Beat The Bot Club” on this site, where we all agree to spend our btc at a given time/date to test this theory? Someone would have to work out how much btc we need to drive through those bot walls. I nominate Cryptoman976 to start/work this out :sunglasses:

Your 2 and 3IC could be Tika and Cryptomat!


#1241

Dead cat bounce on 50% fib? (BTC)


#1242

LOL, you are talking about the “Fight the dump club” which has multiple maxed out threads that have been doing that for a while. The “leader” of that movement was banned from these forums…I prefer to have no connection to such a movement which ultimately would have no affect…people using bots have WAY more money than all of us combined, lol


#1243

as you can see now that the 201 sell wall of 200K + has been removed


#1244

Good question…unfortunately I have to leave to go help my wife with some stuff for the rest of the day (of course today is exciting in the market…why wouldn’t it be…it’s not like I’ve been sitting on my butt with nothing but time on my hands for 6 months…but today it decides to do something). So…I don’t have much time to try and analyze anything. All I would say is to heed caution. This could very well be a fake out as we have yet to break key areas of resistance to trigger any trend reversal.


#1245

True words you say. But i also like to think my continues pressure of keep buying 6etn screwed over the bots :sunglasses::wink:


#1246

I’ve added my entire mining operation to the ETNOcean mining pool which will help with buy pressure. I’m out of fiat to buy more myself, so I’m doing what I can to help. No matter what happens in the short term, the long term looks fantastic!


#1247

So, is there a good method of buying etn? Should we just keep eating the lowest sell orders in chunks of 50, 100, 1k, 10k, 100k etn a time… what hurts the bots the most?


#1248

Out of likes again. EtnOcean mining pool has picked up a bit since last I was mining there


#1249

and the 6’s wins again. Making the 200 Sat buy wall bigger with more support


#1250

I’m no expert on how to fight the bots myself. That’s what they were doing in the fight the dump club thread. All I do is buy whatever the heck I want when I feel the price is right for me. I think long term, not short term. I’m no trader.


#1251

My mistake. I thought that with all the T/A you do that you would be putting it to use, in helping you collect more coins.


#1252

Aaah, so that’s you on Kucoin with all the 6etn trades :+1:


#1253

correct yes. just having some fun


#1254

Ltc is a funny one. Wasn’t it suppose to be a test net for future btc implimentations? Seems to be in its own world now especially with the ufc partnership which is awesome