BUILDING ON THIS CLEAR UNDERSTANDING OF HOW ORDER-BOOK WORKS IS VERY CRITICAL FOR SUCCESSFUL TRADE INTUITION.
As you can see in order-book, how much rapidly order books at some price level are being filled on SELLING column ie. demand is determined by the BUYING PRESSURE ie. supply. So, if price shoots up ie. selling book being filled, it is due to BUYING PRESSURE ,and BUYING PRESSURE significant enough to move market are created by institutions/ hedgefunds/whales/banks.
Vice versa for price dips down.
I strongly suggest to watch the order book being executed after understanding this above figure.
Hah? So you have understood it by now? So, by now, you should have firm grasp that only SUPPORT and RESISTANCE level ,and Volume is only that matters. Technical indicators are just the bull shits of intellectual egg heads.
Now, below posts and posts that will follow, will start to make lot more sense.