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/biz/ - Business & Finance

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49339815 No.49339815 [Reply] [Original]

How come Bitcoins price always blows up much higher than my limit orders before coming back down?

For example

>crabs at 30420-440 for an hour
>i set limit sell order @ 30485
>price hits 30485 and triggers my sell order
>price INSTANTLY (within 0.01 seconds) jumps from 30485 to 30560
>price comes back down to 30500

Ive noticed this happens every time I do this, am I trading with too much bitcoin at one time or something?

>> No.49339838

just means a whale bought X amount of bitcoins, and all bitcoins from spot price up to your order wasn't enough to fill their order, so their order keeps filling past your sell price, until their order is filled

>> No.49339879

>>49339815
unless you're throwing 500k on your trades every time I don't think you're influencing the market all that much no.

You probably set the orders at very safe general targets that other retards can see as well so once they're reached they blow past them.

Generally, once it hits a round number it goes up a bit more off the momentum of all the FOMOers buying in. Either way, this doesn't matter since sooner or later it will come back to 30485 in the coming days.
I was 1k over my short sell order for 2 days before it jumped back 500 dollars under it.