I don't know for you but before getting into crypto, I couldn't care less about the movement of the markets. Now, I check it out so often during the day there are constant questions that are going through my mind.
- Is this spike in price a bull trap?
- Will this run up keep going or showing signs of fatigue?
- Are we done with the bear market yet?
Well, basically, all those questions are a function of two things: Supply VS Demand.
The more people put sell orders on the market, the higher the supply. The more people put buy orders on the market, the higher the demand.
So what if there was a simple tool that would give you the % of Buy Order VS Sell Order on the cryptomarket?
THERE IS ONE ALREADY
This little marvel provided by TurtleBC gives you the BUY VS SELL percentage for the top trading pairs on the biggest exchanges.
Right now, we are still at 88.57% BUY vs 11.43% SELL. That means that we are not done with the run up. We are going through corrections of course but I'm confident that we will be gaining traction and that it is not a bull trap.
Conclusion
I'm watching this very closely and so should you if you are curious to know which way the wind is blowing!
Can someone explain the "buy versus sell percentage" metric? Is this looking at the unfilled order book on exchanges?
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Bumping this! I would also like to know more information about this chart/metric. What exchanges does it look at? Is it for the entire crypto market or just BTC (or is it even for crypto)? Does it take into account the size of the buy and sell orders or just the number of them?
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Binance, Bittrex, Poloniex on all trading pairs. Based by size of the order. You can also go back and see how it tracks the past quite nicely.
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Thanks for the info. I will definetly look into it.
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It’s so scary to figure out when will it be the right time to sell or buy and not feel like it’s a big loss . I’ve had chances where I sold one day because I panicked and the next day it was up 30% but the best thing to do is sell wherever you are in profit and feel good about it
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Thanks for the heads up! Very useful! Upvoted!
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Maybe I didn't get something, but what is the difference from traditional "Market Depth" chart?
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bull is after 12k$ for bitcoin
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Thank you for sharing, this looks like a great tool to add to the tool box.
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UPVOTED | RESTEEMED | FOLLOWED | THANK YOU
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Cryptocurrencies has value because it has utility. The price of each Cryptocurrency as expressed in fiat currencies is determined by demand and supply rules, just like for any other marketable good. The supply of new Cryptocurrencies is determined by an algorithm and is completely predictable for decades to come. The demand comes from the simple fact that it is much better money than the alternatives out there.
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That is a great tool for one, and if this is correct that we are at almost 90% buy, then I'm hodling as tight as "tetanic" jaw. I believe the spike is not over and we'll see some major rises pretty soon.
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Really cool tool! I’m new to cryptos and investing so it’s easy to overlook this simple fact. Thank you for sharing.
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I didn’t even know there was such a tool. Thanks for the info.
Using this you can sort of “protect” your investment as it “dedicates” if there is high demand that the proce will probably rise and the opposite....
As for this
I can totally relate
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I agree
The time to buy is right now.
BTC is going above 10k soon, so if you want to invest this is the best time.
It's gonna stay bullish for a while now
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@cryptoctopus, what do you think about touted valuation models for cryptos such as NVT, MV=PT, or just plain old using market cap comparisons against centralized peers. I write reviews on ICO but hardly ever touch on the subject of price. Different audience.
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When comparing bull and bear markets, it easiest to identify the overriding trend by simply looking at price activity itself. If asset values are posting successive rallies over time – higher highs relative to values seen previously – investors would say a bull market is in place. And vice versa.
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I think the market will go further ahead.But we have to be careful.Right now no one can tell anything about crypto market.I hope that market will go up until bitcoin hit 11k mark.Then there may be another collapse.Hope for the best.
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after 11k is moon. no more going back.
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Trading in any financial asset is hard.The key to success as a trader is to have a disciplined, methodical approach to your trading. You have to have a trading plan, and you have to stick to it. If you are trading without a plan then you are relying on a variety factors such as hope, luck and the grace of god to ensure your success.
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hope, luck, and the grace of God are not trading strategies. you need to be disciplined in the market.
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I strongly believe this spike is a bull trap
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when 90% of the orders are for buying? Where are you getting this idea? From tea leaf?
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hahaha hey now tea leaf has been right in the past ;)
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There is now trap! It's just a healthy correction.
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Yes I think one must have full knowledge of the market to be able to manoeuvre the points you discussed but for a novice the way to go is the bear style only if you are a bull in real life. Hahaha
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Oh yes, my friend, trading on the stock exchange is always unpredictable and it happens very often that bulls can entice us into traps set up, this is a favorite tactic, but I always try to follow the simple rule of buying when cheap and selling when expensive. Although psychologically always want to succumb to ozheotazhu and buy expensive, that would be even more expensive to sell, but this is the trap of bulls. Thank you @cryptoctopus
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I personally treat this as a correction! It's healthy to have such ones especially after strong impulsive moves. As I say, the bigger correction, the bigger upside!
I think tomorrow we should see green color again. Here's some examples:
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I do hope you are correct. We have a correction today! Lets see how long it lasts. From then on it could be dull throttle!
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I think it will last one or two days and by the end of this week we will see green color again!
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You are spot on.Crypto will go up if the demand remains same.So we have to keep an eye on the market.But under this circumstance it's very risky to decide what to do?If the demand fall then crypto market is also going to fall.So stay alert.Thank's for sharing with us.
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Wow, thanks for this great info. I think this will give a better insight and will help to forecast and predict the movement of market.
I will now be watching closely
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Cryptocurrency is like a luck hehe
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Great article, thanks for sharing. I've smashed the upvote button for you!
Also, if you are looking to get some tokens without investing or mining check out Crowdholding (https://www.crowdholding.com). They are a co-creation platform were you get rewarded for giving feedback to crypto startups on the platform. You can earn Crowdholding's token as well as DeepOnion, ITT, Smartcash and many other ERC-20 tokens.
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You got a 26.92% upvote from @postpromoter courtesy of @cryptoctopus!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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Great success.
Dear @cryptoctopus please can you send me your FB Id?
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hope this bull will live long...
bdw i was not aware tools let us figure this out
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Grabbing the bull by it’s horns over here!♠️
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This means we might hit another all time high.
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May be market will be bullish
I hope crypto will back again.
I always with crypto whatever it is bullish or bearish.
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You have a good blog, I followed you. I hope that you follow me, let's develop Steemit together and develop even…
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thank
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Gracias por la información, la analizare con calma por que hay que tener cuidado con este tipo de herramientas por que poner ordenes que en el momento están fuera de mercado puede cargar el libro de ordenes para un lado u otro según convenga, distorsionando el indicador.
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I'm with you I was the same until I found this new world 5 years ago and I was not lucky enough to be in the Bitcoin race
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it is a great tool.like it.
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Will be looking forward to your next post!
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It's definitely worth exploring, thanks! I'm wondering why would the buy % be that high in Jan 2018? Can someone explain?
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very good information..thank you sir
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Yes it is very right we indulge in any business, we care about every single move and discuss with the people how to improve things.
Stream on
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need to take a close look on it and find clearly.
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Thank you, this is great info. Great tool ... I'm gonna do more research myself.
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Thank you very much for this tool, can you tell me what percentage is enough to go with the trend?
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This is a great tool to add to the arsenal of research sites. I haven't heard of this one before. Thanks for the post @cryptoctopus!
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Crazy Bull-Bear ;)
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Well as a matter of fact that is indeed a nice way to recognize the pattern and will sure use that way .
Thanks for bringing it up !
Hope this trend stays on as well.
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Really appreciate the tool. I use CoinGecko and Steemnow to mostly follow the treads and rolling average. TurtleBC looks straight forward and easy to use. Thanks for the tool man.
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nice will add this to my list
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That is a helpful tool. Thanks for sharing. While it is true that it boils down to supply and demand, I have been growing more and more skeptical as evidence of price manipulation and the use of trading bots can really skew the appearance of an order book.
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thaks! for the info!!
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very good your article very interesting
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Totally agree with this post...Help and support each other and the world as a whole--a better place...
creative job @cryptoctopus, thank you for sharing.
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The big question is which crypto to buy during the dip?!?
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you'l need to make more research on any coin you want to buy.
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wow, I have so much to learn. thank you. you all are a GENIUS IN CRYPTO.
❤️ i love the post.
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Adding this to the tool box. Looks like 75% is a good spot to take some profits off the table over the past 3 years. Thank you, @cryptoctopus.
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Well thanks for these information, need to make a research on it to know or learn more.
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Since Steem is listed on the Huobi exchange, it will have a good bull market!
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Truly I figure one must have full information of the market to have the capacity to move the focuses you talked about yet for a fledgling the approach is the bear style just in the event that you are a bull, all things considered. On the off chance that you are exchanging without an arrangement then you are depending on an assortment factors, for example, expectation, fortunes and the beauty of god to guarantee your prosperity.
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@cryptoctopus,
This is just a spike and I think the real trend is about to come as a BULL! Hope you can be a millionaire then!
Cheers~
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Hey @cryptoctopus, nice post! I'm looking into this tool and most probably I'll be using this before investing into the market. How long have you been using this btw?
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very intersting
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Great tool! I thought of programming something similar last year, but I never figured out how to best interpret it. The fact that there are more buy orders than sell orders can also be interpreted as the average expected future price being lower than it is right now (at least short term), which pretty much means that a majority of people are confident that the price will go lower than it already is, but then go higher again. Or does it mean that those who placed such low buy orders were pessimistic and missed out on a buying opportunity?
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Well, I don't think the Buy/Sell percentage alone would give a clear signal to enter the market either Short or Long, it should be combined with Elliott waves and Technical Analysis.
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That is a great tool, thanks for the post!!
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Thanks for sharing this tool. I like it.
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Congratulations @cryptoctopus!
Your post was mentioned in the Steemit Hit Parade in the following category:
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BULL OR BEAR?
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I think the market is bullish. I keep watching the market from time to time and it goes up and suddenly down and again up. Real bullish
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Bull I hope! Who really knows? Good read.
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Well I didn't knew about turtlebc.
This method is probably better and simpler than following advises from people who "analyse" the price charts.
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Buy Digibyte Now Or Cry Later!!! =]
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@cryptoctopus did not get the reason of my post. i have already made a post to buy into cryptos. Im bullish.
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Least favourite marketing tool on Steemit = SPAM.
Or in other words, the reason this comment is getting flagged.
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