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Author Topic: Bid depth sustainable again  (Read 2673 times)
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April 12, 2013, 06:08:52 PM

One thing I noticed as we went up was that the bid side was getting seriously overextended.  5000 BTC could often push it down $30.  There was never over 60k BTC to $100 on the bid side, even when we were at $266, and 100k BTC would push it all the way to $20 at times.  I was in denial about this but it was unquestionably happening.  It was probably a sign that we would crash.

Now, 60k BTC will push it down to $60, and 100k BTC will push it down to $37.  This looks much more sustainable, so it seems like $60 will hold.  When we were going up, there was 60k BTC to $60 during the recovery from $52.  This support is underscored by the exponential trendline from January.

We are at healthy levels again.

(BFL)^2 < 0
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