I have been following the Litecoin action really close today and something just feels very off.
Take this grab from the Poloniex order books earlier where the price continued to rise through the day.
Notice how empty the "buy" orders are compared to sell yet it kept battering against the sell wall rising.
There have also been a pair of buy/sell orders of either 1060 or 1160 coin orders (depending on time of day) far enough above and below the action not to get caught in it but tracking the action.
That sell wall was a single 5000ish coin order that slowly moved up with the action holding the rise and re-filling when part of it was eaten to build pressure.
Here we are later in the day just after a near $20 gain back to $480
Again the matched pair of buy/sell $1160 inflating the order books either side. Notice how empty the buy side is depth wise. This was the same at the start of the $20 spike back to $250.
When no real action is going on orders appear out of nowhere to push up or down then vanish again, yet far enough away from the action not to get consumed. Normally a few $ below the action point yet never buying, the buy orders would be empty without that to make it look like interest.
Something really stinks with the Litecoin rise. Numbers and patterns are my thing and this just feels wrong?
Woz
