What is the nature of the process of buying or selling a cryptocurrency on an online exchange?
Let us say you want to buy one Bitcoin for $9,500. Then you need to declare this desire to the market and the potential sellers by issuing an order. Sellers appear the same way by declaring their desire to sell Bitcoin at a particular price. When the desires of the sellers coincide with the capabilities of the buyers, the transaction is automatically concluded. 'Oku lekooti 'e he ha kehekehe 'o 'ikai kuo te'eki fakafonu kakato 'a e ngaahi 'ota 'i he ngaahi me'a 'a ia 'oku 'iloa ko e tohi 'o e 'ota.
Ko e angamaheni, 'i he ngaahi fepotalanoa'aki, 'Oku fakahoko 'e he Tohi 'a e 'ota 'i he fotunga 'o ha tepile, 'Oku fakahaa'i atu ai 'a e ngaahi polokalama 'o e Seilasi lanu kulokula, mo e fakatau’ 'Oku 'a e ngaahi kole 'i lanu mata. Na'e fakahaa'i 'e he ha ngaahi Kalafi 'o e tepile 'a e fika 'o e koini mo e tu'unga 'ulungaanga mahu'inga 'a ia 'oku nau fakataumu'a ke fakatau atu pe fakatau. 'Oku fokotu'u 'e ha mafola 'i he Palaimeli 'a e ongo maka ko 'eni, pe 'oku 'i ai e faikehekehe 'i he mahu'inga 'o e ngaahi me'akai mo e fiema'u. Ko e ma'ulalo ange 'o e fakamafola, Ko e lahi ange 'a e huhu'a he crypto 'o e koloa.
In the chart above, the convergence of limit buy and sell orders is represented by walls that periodically merge. The point of connection of the green and red walls is the point of the current rate of the cryptocurrency.
The order book contains only limit orders, as market orders (made at the market price) are realized instantly, and it does not make any sense to display them in the order book.
The analysis of the order book is a leading indicator of market conditions, as it allows one to forecast changes before they happen. If, hange ko 'eni, we see a large accumulation of bids for implementation at the upper price limit, we can predict that as soon as the market reaches this limit, there will be a recession provoked by a large number of sales.
Equal orders for large players are equally important for making Ko hono fetongi 'aki decisions, as they are always noticeable in the order book and can significantly shift the alignment of forces. Orders often appear in the order book that are very close to the market’s conditions. When the market moves in one direction or another, they are pulled to the market price, correcting these movements. At moments when the price approaches the level of resistance, passive orders (adhering to the same level) close to each other in value, are fixed in the order book.