Hey Flight
My thoughts are , It's a visual carrot .. and also an anchor of sorts ..
It says to the seller if you want to sell it's easy if you drop off this many cents , this is where the buying volume is if you want to sell ... desperately..
Then as it inches towards it , it gets shifted down the order to cause frustration and anxiety that you just missed out on that price , you can take this one though . bit cheaper but still o.k .. then it gets shifted again ..
About 7 to 10 cents off the top buy bid , rarely gets hit and has been like this from my observation over many price points since the shorters arrived ..
It's all done by machine algorithms I reckon .. when it stops ?? who knows ?
Only when the shorts have finished is my guess ,
So you have the carrot on the buy side for the seller , usually 70 to 100 thousand volume at one level , and the cap on the sell side to deter the buyer .. usually about 5 to ten cents from the highest sell bid ..and they incrementally drop the price down with bots ..
Right now 117 ,000 volume on buy at $2.17 ..110,000 buy at $2.26 if price gets close to $2.17 watch that buy bid drop lower ..
Still squeezing the blood from this stone 18 months later ..
Just my observation and opinion .could be completely wrong ..
Fair market , don't think so ..
Dyor
WBTFTBW ..
Weebit will be huge success . given time and once the shackles are removed .
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