It seems like Neo just turned from downward motion to upward motion. But then it hit "sell-wall" at 540k. All buys over 540k are currently countered with sales so that the price stays at 540k. Its like a flatline. Is something going to happen soon, big bump or dump?
After some reading Im guessing its somekind of attempt to get the price down:
for a professional trader it's all about getting the best price you can, buying or selling. So if the current price is $990, you don't put in an order at $1,000 of course. You put in an order for say $900, and try and move the action down towards your bid. You can do this by putting a "sell wall" (with no intention of actually selling). Sellers behind that wall will get no bids unless they jump the wall (lower their offer price) hence moving them towards your lower bid price.
It's mostly psychological, but it works, as most newbs can't work out what is going on...the way to overcome them, if you have the money and the stones, is to take out their wall in one hit, before they can move it.annoys the shit out of them, loses them money and makes them think twice about doing it in future. The games that go on...
