Point of the ask wall?

[speeder]

6.45401   0.2500   0.3
6.4999   6.8000   7.0
6.49998   18.9200   26.0
6.5        1488.3693   1514.3
6.50671   0.3797   1514.7
6.51           68.3237   1583.0

What is the point of that HUUUUGE ask at 6.5?

And that looks like the same ask that some hours ago blocked 5.644

[proudhon]

6.45401   0.2500   0.3
6.4999   6.8000   7.0
6.49998   18.9200   26.0
6.5        1488.3693   1514.3
6.50671   0.3797   1514.7
6.51           68.3237   1583.0

What is the point of that HUUUUGE ask at 6.5?

And that looks like the same ask that some hours ago blocked 5.644

What huge ask at 6.5?

[Cluster2k]

The so called 'wall' is now at $7.  The reason is simple: it's a nice, round, psychologically cozy number that traders like to use. 

I had all sorts of Bids at $6.1, $6.2, $6.3, all the way up to $6.7 that were executed.  A few hours ago I would have been part of the 'wall' and viewed with suspicion by some as a market manipulator.  I put the staggered Bids and Asks in to be executed when the market soars or sours, just like it has in the last couple of hours.  New Bids have been placed just in case the rally peters out, like the last one did a few days ago.  People read too much into 'walls'.

[speeder]

But 5.644 is not a round number and had a 1500 BTC ask... (that got cancelled, and not actually bought out... and this triggered a jump to 6.4)

[Cluster2k]

But 5.644 is not a round number and had a 1500 BTC ask... (that got cancelled, and not actually bought out... and this triggered a jump to 6.4)

Sometimes I use random numbers.  If everyone wants to pile in at $5.80 then my trades might not be executed.  But if I use $5.78921 then I will be ahead of the pack.  Someone else might then say 'aha! I'm smarter, I'll grab $5.77999', and so on.

Sometimes I use funny pricing just for the hell of it.

Or it's the Manipulator playing with your mind 

[NamelessOne]

So what numbers are your staggered sells now? haha. I'm trying to get into stagger buying and selling with the rallies.