What is the mechanism behind huge orders in the order book?

I'm new to trading, and have been observing the distribution of orders in the order book for various currencies.

I noticed that very often there are one or two (relatively) huge sell orders floating just underneath the market price. Yet in most cases, when the market price moves down, these orders seem to get cancelled and moved down to a lower price.

example

My guess is that this is a big player trying to buy at the lowest price, but I'm curious if anyone else has a deeper insight into the workings of this.

submitted by /u/CityMonk
[link] [comments]

Read More

Popular posts from this blog

World Economic Forum Bitcoin Discussions Validate the Movement

The World Economic Forum WEF has long been a lightning rod of global discussion on economic, social and political trends. This years gathering in Davos, Switzerland, was no exception.Blockchain technology emerged center stage last week as a key discussion theme, receiving praise from attendees for its cutting-edge potential. Bitcoin and the future of cryptocurrencies, too, were highly discussed topics at the forum, not just casually but also in an official session and a few panel discussions.
Read more