Mind you though - these buy and sell walls can instantly show up and disappear. In order to drive the price lower than that, someone (or all sellers combined) would have to sell ONIONs worth more than 3.56 BTC. Back to the screenshot - in this specific example, there is a BUY wall 9,000 sat. In that chart, you can easily identify sell / buy walls. The market depth chart gives you an instant idea about the supply and demand situation. If someone dumps a large number of ONIONs, the market price corrects downwards. You would have to buy a large part of the existing sell orders and by doing that, you would reduce supply at these price levels and drive up the lowest price in the sell orders accordingly. In the given example, you would be able to buy your first 216 ONIONs 12.984 sat. Now how do you read that? Say you are an investor and want to buy 1,000 ONIONs. It then displays the consolidated order values on a stacked area chart (the market depth chart). This indicator sums up all existing orders sorted by ascending (sell orders) or descending (buy orders) prices. To do that, market depth charts use an additional indicator: Sum (BTC). It puts all buy and sell orders into a chart and stacks them onto each other. The market depth chart displays these orders in an easily understandable manner. If you want to sell more, you’d have to settle the next, lower sales price. The order disappears from the order book upon completion. You would receive a total 2,499,673 sat for for selling 210 ONIONs (Total (BTC)).
This means if you happen to hold ONIONs, this is the highest sell price you can get if you want to sell 210 ONIONs instantly. Example (order book picture): in the buy orders, the first buyer (currently highest bid) is willing to buy 210 ONIONs 11,866 sat per ONION. Order books usually display several indicators: price, amount and Total (BTC). Deals are made wherever a buy order finds a seller or a sell order finds a buyer. There are buy orders (people who want to buy ONIONs for BTC) and sell orders (people who want to sell their ONIONs for BTC). The order book displays all orders that are currently p laced for a specific trade pair on an exchange (I use DeepOnion/BTC on cryptopia as an example here). This will help any new crypto investor to understand how and where to place their orders. Here is a simple tutorial explaining the basics.
Where can i buy the book how to#
I see people asking on several forums how to read an order book in a crypto currency exchange. Order book and market depth (taken from cryptopia on Nov 16)
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