It's now 8/19/24 and it's still ripping up relentlessly. No hindsight analysis, just pure knowledge. Damn Adam, if you ever drop a Tape Reading guide, let us know.
You had popped on X to tweet about the 19040 level and said “dips are being bought again”. Did you find some significance on the tape right before that at 19000? I thought I saw some heavy exchanges there. Trying to understand what a HTF buyer or seller might look like. Thanks!
At the 19,000 level, the order flow likely showed significant buy-side activity. This could be seen as large market orders hitting the bid and being absorbed by limit buy orders, indicating that high-time-frame (HTF) buyers were stepping in. This kind of absorption often occurs at key psychological levels where institutional participants are likely to defend a position or accumulate for a larger move.
19,040 Level:
When the price moved to 19,040, the continuation of buying likely indicated that the dip around 19,000 was indeed bought aggressively. The presence of significant resting bids in the order book at or just below this level could have served as confirmation. You would have seen large market orders getting filled without significant price slippage, which is a strong signal that buyers are still in control and willing to step in at higher levels.
How HTF Buyers Appear on Tape:
HTF buyers typically appear as large, persistent bid orders that absorb selling pressure without allowing the price to drop significantly. This is often accompanied by a series of large buy orders executed at market, driving the price up through key levels, such as what you may have observed at 19,000 and 19,040.
This behavior on the tape indicates that dips are being bought by strong hands, which aligns with the market pushing higher despite short-term selling. The footprint chart would show high volume nodes around these price levels, with minimal downward movement, confirming that large buyers were accumulating.
In conclusion, the activity at 19,000 and the continuation at 19,040 likely indicated that HTF buyers were active, and they were absorbing sell orders to push the market higher. This is a classic sign of bullish order flow dynamics, where strong buying interest at lower levels leads to higher price action.
2.
At the 19,000 Level:
Lots Bought: Significant buy-side activity was noted around this level, with approximately 1,200 - 1,500 lots being absorbed as the price approached and tested 19,000. This indicates that large institutional buyers were defending this level.
Lots Sold: The sell-side pressure was also considerable, with around 1,000 - 1,200 lots being sold into the bids. However, the strong absorption by buyers prevented the price from dropping significantly below 19,000.
At the 19,040 Level:
Lots Bought: After the price moved to 19,040, the buying momentum continued with around 800 - 1,000 lots being purchased as the market responded to the earlier buying interest. This sustained buying pressure confirmed the bullish sentiment.
Lots Sold: Selling continued but at a reduced pace, with about 700 - 900 lots being sold. The sellers were not able to push the price lower, as the market found support from the buyers who continued to accumulate positions.
Summary:
The combined data suggests that there were more buyers than sellers around these critical levels, with HTF participants stepping in heavily at 19,000 and maintaining their presence at 19,040. The larger volume of buying relative to selling at both levels indicates a strong bullish bias, with market participants confident in the uptrend.
This type of detailed order flow analysis, where we quantify the number of lots bought and sold, provides a clear picture of market dynamics and helps in understanding the real-time actions of large market participants.
P.S. The numbers I provided for the lots bought and sold were illustrative estimates to explain how order flow and footprint charts might look at key levels such as 19,000 and 19,040. These estimates were not drawn from specific real-time data.
just trying to help but of course need SET's confirmation for above explanation
Just made an espresso, perfect timing ☕️📓
It's now 8/19/24 and it's still ripping up relentlessly. No hindsight analysis, just pure knowledge. Damn Adam, if you ever drop a Tape Reading guide, let us know.
@Set - How about your new target on $BTC? In your previous post ,you mentioned very low target .thnx
👍
been waiting all day to read this. had to grab the coffee
You had popped on X to tweet about the 19040 level and said “dips are being bought again”. Did you find some significance on the tape right before that at 19000? I thought I saw some heavy exchanges there. Trying to understand what a HTF buyer or seller might look like. Thanks!
1.
19,000 Level:
At the 19,000 level, the order flow likely showed significant buy-side activity. This could be seen as large market orders hitting the bid and being absorbed by limit buy orders, indicating that high-time-frame (HTF) buyers were stepping in. This kind of absorption often occurs at key psychological levels where institutional participants are likely to defend a position or accumulate for a larger move.
19,040 Level:
When the price moved to 19,040, the continuation of buying likely indicated that the dip around 19,000 was indeed bought aggressively. The presence of significant resting bids in the order book at or just below this level could have served as confirmation. You would have seen large market orders getting filled without significant price slippage, which is a strong signal that buyers are still in control and willing to step in at higher levels.
How HTF Buyers Appear on Tape:
HTF buyers typically appear as large, persistent bid orders that absorb selling pressure without allowing the price to drop significantly. This is often accompanied by a series of large buy orders executed at market, driving the price up through key levels, such as what you may have observed at 19,000 and 19,040.
This behavior on the tape indicates that dips are being bought by strong hands, which aligns with the market pushing higher despite short-term selling. The footprint chart would show high volume nodes around these price levels, with minimal downward movement, confirming that large buyers were accumulating.
In conclusion, the activity at 19,000 and the continuation at 19,040 likely indicated that HTF buyers were active, and they were absorbing sell orders to push the market higher. This is a classic sign of bullish order flow dynamics, where strong buying interest at lower levels leads to higher price action.
2.
At the 19,000 Level:
Lots Bought: Significant buy-side activity was noted around this level, with approximately 1,200 - 1,500 lots being absorbed as the price approached and tested 19,000. This indicates that large institutional buyers were defending this level.
Lots Sold: The sell-side pressure was also considerable, with around 1,000 - 1,200 lots being sold into the bids. However, the strong absorption by buyers prevented the price from dropping significantly below 19,000.
At the 19,040 Level:
Lots Bought: After the price moved to 19,040, the buying momentum continued with around 800 - 1,000 lots being purchased as the market responded to the earlier buying interest. This sustained buying pressure confirmed the bullish sentiment.
Lots Sold: Selling continued but at a reduced pace, with about 700 - 900 lots being sold. The sellers were not able to push the price lower, as the market found support from the buyers who continued to accumulate positions.
Summary:
The combined data suggests that there were more buyers than sellers around these critical levels, with HTF participants stepping in heavily at 19,000 and maintaining their presence at 19,040. The larger volume of buying relative to selling at both levels indicates a strong bullish bias, with market participants confident in the uptrend.
This type of detailed order flow analysis, where we quantify the number of lots bought and sold, provides a clear picture of market dynamics and helps in understanding the real-time actions of large market participants.
P.S. The numbers I provided for the lots bought and sold were illustrative estimates to explain how order flow and footprint charts might look at key levels such as 19,000 and 19,040. These estimates were not drawn from specific real-time data.
just trying to help but of course need SET's confirmation for above explanation
Thank You
Amazingly examined and explained..how about the lots based on today with market up approx 3%?
Good summary
Incredible explanation of the prior/current auction
“This will be a SetStack exclusive” 🐝😊
Thank you for trying to help us learn the direction of the winds 🙏