Sometimes I hate the market depth.
More sellers than buyers means downward pressure - makes sense.
On the other hand if most of those sellers are sitting above 70c then you could argue that they are bullish - expecting the price to rise to take out their sale.
On the other hand it could mean that they are bearish and want to get taken out at the next spike - and dont expect it to trend up.
On the other hand they could be fake pushing the price down so they can get in low.
On the other hand they could be people who got caught.
Arrrrrggghhhhhhh I hate the market depth!!!!!!!!
market depth theories
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