is it good to rely on order books or depth charts

[jostorres]

I don't think order books or depth is a reliable way to see anything, mainly because any whale can show you what he wants to see.

But I think if you get a good idea of books/depth across many many exchanges, it's more accurate.

What's more important is volume. Even if books are low, but volume is high, that's more reliable for me. Of course with same consideration not of single but multiple CEX.

They are not reliable because like the @OP said, these two can be canceled at any moment. Some are only put there to confuse the traders making them lose and that is where the other gain an advantage. Trading is too wide and there lot's of things involved. Maybe some traders can use books and depths as basis but they should also add other factors in order to become more successful in this business.

Volumes on the other hand can also be manipulated and an exchange can be involved with it sometimes so we must be careful if we are using this as basis to make predictions. I like your idea of checking multiple exchanges especially the trusted ones because they can only display accurate data's.

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[teosanru]

Many people decide by seeing depth charts that what the price will be in future, but the orders are constantly changing many people cancel and change orders many times,
then why this wall observer thread is opened, does it important to see the order wall or depth chart?
mostly price movements occur on market price which is due to intuitional buying or selling,

Mostly no. Especially exchange specific depth charts. It's because these charts contains a lot of orders of Bots or the market makers which keep on moving here and there and not always get executed if they are there. It's better to plot demand supply zones using previous trend reversals to determine whether there would be buying or selling on a particular point. Looking at raw buy sell wall won't really help you.

[Doan9269]

Don't too rely on anything than what you've research about bitcoin and how you understand the study perspective, we only need other sources materials to help us through the process of gathering required and necessary informations needed and to add them altogether with what we have researched on, but that doesn't mean what should be our focus is only on what we read, everything complement each other.

[slaman29]

What's more important is volume. Even if books are low, but volume is high, that's more reliable for me. Of course with same consideration not of single but multiple CEX.

Volumes on the other hand can also be manipulated and an exchange can be involved with it sometimes so we must be careful if we are using this as basis to make predictions. I like your idea of checking multiple exchanges especially the trusted ones because they can only display accurate data's.

You can definitely manipulate volume but only to a certain extent, and if you take multiple CEXs, you can notice discrepancies more. Not easy for a single CEX to manipulate on its own without damaging reputation. Much less easy for many CEXs to get together and manipulate together.

Note that this is of course regarding solid pairs. Shitcoins if they are even listed on the CEX so soon, they're all paid for anyway and automatically must be assumed as manipulated.

[justdimin]

It's true that depth charts and order books can give an indication of market sentiment and potential price movements, but they should not be the sole factor in making trading decisions. Market conditions can change rapidly and orders can be cancelled or modified at any time, so it's important to use other tools and analysis to make informed decisions. Additionally, institutional buying and selling can have a significant impact on price movements, so it's important to stay up-to-date on news and events that could affect the market. Overall, a well-rounded approach to trading is key, incorporating a variety of tools and analysis to make informed decisions.

TA is the same way, people look at the indicators and they think that move will happen. However, we all know that anything could happen in the market and TA is not the only thing that matters. I personally believe that the best thing to do right now is just checking everything all at the same time and hope that you are right.

Most of the time it is going to be something simple and I believe that the best version of this could happen when you think about the fact that it will be bringing you some profit with time. Obviously check the order books and such, and check the indicators too, check all of them and make a decision and do it. After that if you are still wrong, which happens to everyone, then just take a look at where it went wrong and fix that for the next time.