How can I interpret the depth chart on Coinbase Pro?

1 answers

• Fireproofing OntarioDec 01, 2020 · 5 years ago
  As an expert at BYDFi, I can tell you that interpreting the depth chart on Coinbase Pro is crucial for successful trading. The depth chart provides valuable insights into the market's supply and demand dynamics. By analyzing the depth chart, you can identify areas of support and resistance, as well as potential price movements. For example, if you see a significant buy wall on the depth chart, it suggests that there is strong buying interest at that price level, which may indicate a potential price increase. On the other hand, a large sell wall may indicate selling pressure and a potential price decrease. It's important to note that the depth chart is just one tool in your trading arsenal, and it's essential to consider other factors such as market trends and news before making any trading decisions. Remember, always do your own research and never invest more than you can afford to lose.
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