deathcode (OP)
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Eloncoin.org - Mars, here we come!
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April 05, 2013, 12:19:40 AM |
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The order book shows the offer and demand. A few days back, the offer side was close to none, now it seems there's way more offer than last week... Geniuses of the finance world, what are your thoughts? ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fdl.dropbox.com%2Fu%2F72382452%2Faccumulated_orderbook.png&t=665&c=vVUdywNSUrAVKg)
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cilphex
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April 05, 2013, 12:31:06 AM |
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Dargo
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April 05, 2013, 12:33:43 AM |
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I was noticing this too. I think it's significant, but we all know that orders can be pulled, so I'm not sure how significant.
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smoothie
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LEALANA Bitcoin Grim Reaper
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April 05, 2013, 12:41:35 AM |
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walls mean nothing especially if they are straight up and down walls. Slanted walls composed of many orders is what you want to watch for.
People will pull their orders if the price continues to approach $150.
Dont be a bear...until we are at $500 to $750 in the short term
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Beauxe
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April 05, 2013, 12:53:42 AM |
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The graph has looked exactly that way since January. It is interesting, but not an indicator of direction. It does not in any way evaluate "market orders" that immediately match against an offer.
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BIGMERVE
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April 05, 2013, 01:37:04 AM |
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The graph has looked exactly that way since January. It is interesting, but not an indicator of direction. It does not in any way evaluate "market orders" that immediately match against an offer.
I disagree. It is a good indicator of direction. It might not be 100% accurate but it is a good thing to watch if you know what to look for.
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Bitcoinfly
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April 05, 2013, 03:23:38 PM |
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Irrelevant.
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sgbett
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April 05, 2013, 03:46:32 PM |
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I give it merit. The more people buy in, the more people want to sell for profit. Hence the asks swelling.
The bid side, I think is mostly people looking to pick up coins on big selloffs. The real buying action has been hoovering up asks at market price. imho.
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"A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution" - Satoshi Nakamoto*my posts are not investment advice*
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phatsphere
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April 05, 2013, 03:52:30 PM |
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higher prices demotivate buyers and motivate sellers. also, one side hopes for lower prices in the short term, the other side doesn't want to miss occasional larger buys. that's all. blockchained.com shows you the sum of both sides over time …
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Dargo
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April 05, 2013, 04:26:50 PM |
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This very same graph, but from April 1st. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fdl.dropbox.com%2Fu%2F72382452%2Faccumulated_orderbook41.png&t=665&c=PSjB4A0c6o6zdQ) Big difference uh? Yes, but most of it is probably just posturing. Bears feeling confident enough to throw up more sell orders. There's a big difference between putting in a sell order and leaving it there when it's about to be hit. We've seen ask walls pulled, and also bought many times during this rally, so I don't know why you are concerned this time. There was an idea going around during the last rally that we would just gobble up all the asks, but I think that was silly.
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Dargo
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April 05, 2013, 04:45:04 PM |
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This very same graph, but from April 1st. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fdl.dropbox.com%2Fu%2F72382452%2Faccumulated_orderbook41.png&t=665&c=PSjB4A0c6o6zdQ) Big difference uh? Yes, but most of it is probably just posturing. Bears feeling confident enough to throw up more sell orders. There's a big difference between putting in a sell order and leaving it there when it's about to be hit. We've seen ask walls pulled, and also bought many times during this rally, so I don't know why you are concerned this time. There was an idea going around during the last rally that we would just gobble up all the asks, but I think that was silly. I'm not really that concerned... if anything, I was getting spoiled with those huge jumps ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) a slower growth rate is healthier. Agreed - I'd love to see price stay in a tight range for the next week or more. At the very least, I'd like price to wait for the 10 day EMA to catch up. That would be much more healthy IMO than another quick ramp higher. And if ask walls, fake or not, can help with that, I welcome them.
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