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Title: bisd/ask price chart at bitcoinity Post by: cafter on May 06, 2023, 04:29:39 AM what can we analyze with bid/ask sum chart.
i was surfing bitcoinity.org and came across this page: https://i.ibb.co/cgLWYnP/nvn.jpg (https://ibb.co/yfSz4jD) i am not able to understand that what can we do with data. (also what is "within 10% range from price" term) Title: Re: bisd/ask price chart at bitcoinity Post by: franky1 on May 06, 2023, 06:44:38 AM what can we analyze with bid/ask sum chart. i was surfing bitcoinity.org and came across this page: https://i.ibb.co/cgLWYnP/nvn.jpg (https://ibb.co/yfSz4jD) i am not able to understand that what can we do with data. (also what is "within 10% range from price" term) its about SUGGESTING* how much USD is being put on orders to buy and how much sellers want USD meaning when there is more USD on the buy side can be a sign of higher demand (possible price increase) meaning when there is more USD on the sell side can be a sign of higher supply (possible price decrease) bid is the buyers ask is the sellers however its historic data delayed by 10 minutes. so by the time your reading it. traders have already reacted to it *its not really useful because most of the numbers are ghost orders that cancel if the price swings too much, so its not really a sign of real demand/supply of people actually wanting to trade at their temporary order amounts Title: Re: bisd/ask price chart at bitcoinity Post by: EarnOnVictor on May 06, 2023, 07:21:31 AM what can we analyze with bid/ask sum chart. It's simple, Bid and Ask are used to offer prices to the Buyers and Sellers of Bitcoin, they mean Buying (We are buying at) and Selling (We are selling at). This is as it is in traditional banks for foreign exchange.i am not able to understand that what can we do with data. (also what is "within 10% range from price" term) The percentage price range is considered when you use the full price of Bitcoin to calculate the price at which it has moved for a certain period of time.For example, if the price of Bitcoin is at $30,000, and after a while, it moves lower to $27,000. Meaning it shed $3000. One could now say that Bitcoin dropped 10% of its price. You may then use this basis to calculate the market impact/range on any chart or market pricing board, including the one you seek. Does the explanation help enough? Title: Re: bisd/ask price chart at bitcoinity Post by: franky1 on May 06, 2023, 07:28:56 AM i am not able to understand that what can we do with data. (also what is "within 10% range from price" term) The percentage price range is considered when you use the full price of Bitcoin to calculate the price at which it has moved for a certain period of time.For example, if the price of Bitcoin is at $30,000, and after a while, it moves lower to $27,000. Meaning it shed $3000. One could now say that Bitcoin dropped 10% of its price. Does the explanation help enough? nope the 10% is the 5% is if the price is $28.5k it shows how much USD is sitting on buy orders from $27k to $28.5k waiting to be taken the 5% is if the price is $28.5k it shows how much USD is requested on sell orders from $28.5k to $30k waiting to be given EG that image shows there was about $45m sitting on buy offers above $27k EG that image shows there was about $45m requested on sell offers below $30k |
