A buy wall is a situation in the market where a large limit order has been placed to purchase a cryptocurrency when it reaches a certain value.
In the context of financial trading and cryptocurrencies, a buy wall refers to a situation where the demand to buy a certain asset at a certain price point is so high that it is likely to prevent the price from falling below that level. This occurs when a large limit order has been placed to buy a particular cryptocurrency when it reaches a certain price, or when many buy orders have been placed at the same price level. Buy walls are often visualized in a depth chart, which shows the cumulative volume of buy orders at different price levels. They can significantly influence price movements and trading behavior in the market, and are often watched closely by traders. However, it's important to note that not all buy walls are genuine—some traders or entities might create fake buy walls to manipulate market sentiment. For accounting purposes, buy walls can impact the valuation of cryptocurrencies held by businesses or individuals, as well as the timing and pricing of trades.