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fitty
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May 06, 2013, 09:48:57 AM |
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I understand most charts, but this one is completely beyond me? Could anyone kindly explain, would be appreciated! Looks interesting lol It's the bid and ask walls. If you go here http://bitcoinity.org/markets you'll see it in 2d. Notice the wall at 125, you can see the ridge in the 3d graph. Those are snapshots of the wall over the last hour. Very little change at the moment. It's taking the 2d walls, making it 3d, and lining them to give you a differnet view. |
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Hawker
Legendary
 Offline
Activity: 1218
Merit: 1001
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May 06, 2013, 09:59:43 AM |
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I understand most charts, but this one is completely beyond me? Could anyone kindly explain, would be appreciated! Looks interesting lol It's the bid and ask walls. If you go here http://bitcoinity.org/markets you'll see it in 2d. Notice the wall at 125, you can see the ridge in the 3d graph. Those are snapshots of the wall over the last hour. Very little change at the moment. It's taking the 2d walls, making it 3d, and lining them to give you a differnet view. So it projects that the price will top out around $125 and start to fall after that? |
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Le Happy Merchant
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May 06, 2013, 10:07:11 AM |
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So it projects that the price will top out around $125 and start to fall after that?
It doesn't project anything, it reports what has happened, and what is happening. |
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Hawker
Legendary
Offline
Activity: 1218
Merit: 1001
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May 06, 2013, 10:11:28 AM |
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So it projects that the price will top out around $125 and start to fall after that?
It doesn't project anything, it reports what has happened, and what is happening. We haven't reached $125 yet so how do you interpret the significance of the "cliff" at that point? |
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Babylon
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May 06, 2013, 10:14:39 AM |
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So it projects that the price will top out around $125 and start to fall after that?
It doesn't project anything, it reports what has happened, and what is happening. We haven't reached $125 yet so how do you interpret the significance of the "cliff" at that point? A lot of people have asks in at around $125, and have for some time. |
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xorglub
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May 06, 2013, 10:17:05 AM |
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I understand most charts, but this one is completely beyond me? Could anyone kindly explain, would be appreciated! Looks interesting lol It's the bid and ask walls. If you go here http://bitcoinity.org/markets you'll see it in 2d. Notice the wall at 125, you can see the ridge in the 3d graph. Those are snapshots of the wall over the last hour. Very little change at the moment. It's taking the 2d walls, making it 3d, and lining them to give you a differnet view. So it projects that the price will top out around $125 and start to fall after that? Not necessarily. It will fall when sentiment turns around and people stop buying / start selling. It will be hard to get past $125 yes but so was $100, $110, $120... so in the end walls mean nothing. Right now most TA hints at a correction - we just can't keep going up, up, up, we're overbought. But the low volume skews the timeframe as of which it will happen. It may just hold for another few days as new money flows in and latecomers buy on the Chinese news, taking us to $130 or maybe higher. However the longer we stay overbought the harder it will correct. |
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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May 06, 2013, 10:26:53 AM |
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I understand most charts, but this one is completely beyond me? Could anyone kindly explain, would be appreciated! Looks interesting lol It's the bid and ask walls. If you go here http://bitcoinity.org/markets you'll see it in 2d. Notice the wall at 125, you can see the ridge in the 3d graph. Those are snapshots of the wall over the last hour. Very little change at the moment. It's taking the 2d walls, making it 3d, and lining them to give you a differnet view. So it projects that the price will top out around $125 and start to fall after that? Not necessarily. It will fall when sentiment turns around and people stop buying / start selling. It will be hard to get past $125 yes but so was $100, $110, $120... so in the end walls mean nothing. Right now most TA hints at a correction - we just can't keep going up, up, up, we're overbought. But the low volume skews the timeframe as of which it will happen. It may just hold for another few days as new money flows in and latecomers buy on the Chinese news, taking us to $130 or maybe higher. However the longer we stay overbought the harder it will correct. I would say that a major correction won't happen until Wednesday. Normally that's the day for both the big rallies or crashes. Don't really know what's the logic in it, but that's how it is usually. |
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el_rlee
Legendary
Offline
Activity: 1600
Merit: 1014
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May 06, 2013, 10:27:18 AM |
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Forget the Chinese news, Bitcoin on btcchina.com is already cheaper than on mtgox again.
By the way: oanda.com, on of the biggest currency exchange rate sites shows the (a) Bitcoin rate now.
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lebing
Legendary
Offline
Activity: 1288
Merit: 1000
Enabling the maximal migration
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May 06, 2013, 10:33:18 AM |
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Forget the Chinese news, Bitcoin on btcchina.com is already cheaper than on mtgox again.
By the way: oanda.com, on of the biggest currency exchange rate sites shows the (a) Bitcoin rate now.
We wont really see the effects of the TV show in China for at least another few days and pushing well into the weeks and months. To dismiss it as over already, is pretty shortsighted. |
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KillaMarci
Member
Offline
Activity: 84
Merit: 10
Bitcoin Mininode...and proud!
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May 06, 2013, 10:34:47 AM |
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Looks like I was wrong about $120 and $125...or did someone actually dump a lot of coins around that price?  (I've been asleep, good morning) |
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solex
Legendary
Offline
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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May 06, 2013, 10:47:19 AM |
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Interesting chart. Where did you get it from?
From a colleague of mine, who used bitcoincharts.com data. ManBearPig has price data going back to 2009 which shows the trend has been consistent from the start, |
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el_rlee
Legendary
Offline
Activity: 1600
Merit: 1014
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May 06, 2013, 10:51:16 AM |
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Forget the Chinese news, Bitcoin on btcchina.com is already cheaper than on mtgox again.
By the way: oanda.com, on of the biggest currency exchange rate sites shows the (a) Bitcoin rate now.
We wont really see the effects of the TV show in China for at least another few days and pushing well into the weeks and months. To dismiss it as over already, is pretty shortsighted. the bigger news is that the Chinese government didn't censor it |
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Its About Sharing
Legendary
Offline
Activity: 1442
Merit: 1000
Antifragile
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May 06, 2013, 10:54:47 AM |
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Interesting chart. Where did you get it from?
From a colleague of mine, who used bitcoincharts.com data. ManBearPig has price data going back to 2009 which shows the trend has been consistent from the start, I don't see any option at bitcoincharts.com for that type of chart. Do you mean he just used their data and then his own charting software or ? That is a really interesting chart, probably because it just keeps going up steadily  If you could find the link that would be great - much appreciated. IAS |
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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May 06, 2013, 10:56:17 AM |
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Technomage
Legendary
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Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
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May 06, 2013, 11:01:33 AM |
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Fresh? You have to be kidding me. That is week old news that everyone who is aware of anything around here, is already aware of. |
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solex
Legendary
Offline
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
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May 06, 2013, 11:01:56 AM |
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Interesting chart. Where did you get it from?
From a colleague of mine, who used bitcoincharts.com data. ManBearPig has price data going back to 2009 which shows the trend has been consistent from the start, I don't see any option at bitcoincharts.com for that type of chart. Do you mean he just used their data and then his own charting software or ? That is a really interesting chart, probably because it just keeps going up steadily If you could find the link that would be great - much appreciated. IAS Yes. Raw data only from bitcoincharts. You can set the chart you want, like this all-time daily one: http://bitcoincharts.com/charts/mtgoxUSD#igDailyztgSzm1g10zm2g25And use the "load raw data" at bottom left to get the numbers. Then chart it in any package (in log form) |
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Rampion
Legendary
Offline
Activity: 1148
Merit: 1018
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May 06, 2013, 11:02:21 AM |
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Fresh? You have to be kidding me. That is week old news that everyone who is aware of anything around here, is already aware of. Yeah man, sorry about that, I just received the link on a newsletter today and I didn't see the date. |
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gizmoh
Legendary
Offline
Activity: 1428
Merit: 1000
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May 06, 2013, 11:29:50 AM |
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I think our $2 million guy managed to know how to buy with multiples 999btc buys at the high price..
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ManBearPig
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May 06, 2013, 11:30:34 AM |
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Forget the Chinese news, Bitcoin on btcchina.com is already cheaper than on mtgox again.
By the way: oanda.com, on of the biggest currency exchange rate sites shows the (a) Bitcoin rate now.
We wont really see the effects of the TV show in China for at least another few days and pushing well into the weeks and months. To dismiss it as over already, is pretty shortsighted. Exactly. Once those downloaders realise what they've downloaded is not mining software, they'll be investing. We are anyway just recovering from being massively oversold and the Gox legal case. Higher lows is the general trend. |
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