There's a strong buy wall right now, and the sell wall is vulnerable.
That 1300 wall has been reduced to 500 so far. Not THAT strong.
What I look at are the shapes of the wall, not so much how many buys there are to sells. For instance, inward curved walls have a lot of strength the more curved and smooth they are. Staircases, and linear walls are often the weakest.
It has a lot to do with the mentality of the traders, smart traders space out their orders, at optimum positions, and don't use whole numbers.
If there's an outward curve, that likely means that there is a resistance/support wall, that once broken, the sky becomes the limit (At least until people start selling).
Curved walls also tend to be the most adjusting, while other walls can be there from old orders, and are not often very strategically placed.
Stairs in the wall, only give traders a target, the more stairs at whole numbers, the more easily it will break under continuous attack, that is unless it comes to the point of being curved instead.
If there is one large break, it is a strong resistance/support, that can eventually break if not removed, but depends on where the market is heading in the long term.
Stairs that are far away, are possible resistance/support points, that could easily form a curve between three or so of them when reached.
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