We’re constantly looking for ways how to improve your trading experience on our exchange. HitBTC is happy to provide you with more tools to help you achieve success a little bit easier. We’ve got two new features for you. A small Christmas gift for our fellow traders!
Let me go through and explain them for you a little bit:
- Execute trades from Market Depth!
You can now use the market depth module to place your trades. Just click on the point in graph with the desired price and we will place a trade for you at exactly this price.
What is this chart?
The market depth chart shows you what limit orders traders have placed on our exchange – so it is essentially giving you a supply and demand chart. From this you can speculate on the support and resistance levels. When a lot of traders buy Bitcoin, the price is likely to go up. When traders start selling Bitcoin, the opposite is most likely to happen – the price will go down.
How do I read this chart ?
The vertical levels show you the volume of orders placed
The horizontal levels show you what price these orders have been placed at.
Green areas are for Buy Orders and Red areas show you Sell Orders.
How do I use this chart?
When buying – Join the bandwagon! Find the highest volumes – when the price hits the price with the highest volumes their limit orders will kick in and start to buy at the exact price the limit order was executed. This will then create more demand for Bitcoin, pushing the price up.
When selling – do exactly the same: search for the highest volumes where traders have put their stop orders. This is when you can predict that the price is going to start falling as when a lot of traders sell at the same time the price will drop due to the demand going down significantly.
- Your Stop Order Level on Our Chart
We will now display your Buy and Sell limits on our price chart to help you keep a better track of your orders:
-Green line will be displayed at the price level of your Buy Order.
-Red line will sit on the price level of your selected Sell Order.
We hope you find this useful. We are working on some more features for you. Also if you have some suggestions about what would make it easier for you to trade on our cryptocurrency exchange, do let us know! Your feedback will be truly appreciated.