Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[Its About Sharing]

The good thing is that a great announcement is innevitable and the longer we sit the better we are.

When one starts quoting from movies as proof, that is a bull signal. And I LOVED MATRIX! 

[ShroomsKit]

you have to admit it at least looks familiar (even if the x2 buttom kills the little bit my theory), and anayway i hardly doubt we can brake 124-125 with this kind of volume

so... drop to 100 then... (if you're right).

And then? People will buy again, it will go up, then another drop to 80?
How does this make sense? After a crash people buy and the price will go up so you will always find this back in the charts.

[Frozenlock]

It wasn't a proof, I just found the argument funny.  
(And I don't really agree... the longer we wait without news, the more the hype can diminish...)

Also, MtGox is still the uncontested leader in terms of volume:
http://bitcoincharts.com/markets/

[ChartBuddy]

[razibuzouzou]

Anyone know the bid ask on the other exchanges, or maybe an overall average?

Hi, I am showing the bid ask sum for BTC-e on http://www.coinorama.net.
It's the second chart on the left (well actually, I divide the bid ask sum by the current rate so that if the ratio is > 1, it means that the bids sum is higher than asks sum).

[IG0BR0KE]

not if you brake the flag..

but here something more important imo

http://img4.hostingpics.net/pics/548902Capturedu20130604092823.png

if we broke the resistance im rly bull until then i've still some real doubts

[teletobi]

not if you brake the flag..

but here something more important imo



if we brake the resistance im rly bull until then i've still some real doubts

There have been some of these Edges the last weeks, and nothing really happened...

[IG0BR0KE]

i meant broke not brake (my bad)  

[ChartBuddy]

[micalith]

you have to admit it at least looks familiar (even if the x2 buttom kills the little bit my theory), and anayway i hardly doubt we can brake 124-125 with this kind of volume

so... drop to 100 then... (if you're right).

And then? People will buy again, it will go up, then another drop to 80?
How does this make sense? After a crash people buy and the price will go up so you will always find this back in the charts.

The last two times the graph looked like this, the price rallied.

edit - I've no idea how the order book compares for those instances though

[rezurect]

Expecting: To 125 and Dip.

[Its About Sharing]

It wasn't a proof, I just found the argument funny.  
(And I don't really agree... the longer we wait without news, the more the hype can diminish...)

Also, MtGox is still the uncontested leader in terms of volume:
http://bitcoincharts.com/markets/

eheheh, as I said, I like the Matrix and all that it represents.

Regarding no news and hype diminishing. Well, two points, if the volume dries up and the price drops I think many of us will just buy more shares at lower prices.
Point two - We are seeing infrastructure for BTC being built now. The VC money is only speeding things up. So, we are approaching a point where we don't or won't need
hype any more. We will be saving people money on transactions for starters. This is where the fun will begin.

And that is why BTC is so exciting, in part anyway. We are in so many markets. We are a store of value, like a commodity in a way. We are a currency, a payment system (of sorts), etc.
More reason to be careful with making too big of an exit. Even when one considers fear based news like "The FED is looking into BTC..."

Yeah, MtGox is still king, but I was getting at the outflow of money confusing the data, in particular over the last two or three weeks, or so.

[Its About Sharing]

Anyone know the bid ask on the other exchanges, or maybe an overall average?

Hi, I am showing the bid ask sum for BTC-e on http://www.coinorama.net.
It's the second chart on the left (well actually, I divide the bid ask sum by the current rate so that if the ratio is > 1, it means that the bids sum is higher than asks sum).

Hey there, thanks for the link. Bookmarked and following, and looking for that > 1 ratio  
Any more info on the charts or things to keep an eye out on? I'm still in the learning phase.

Appreciated,
IAS

edit - can you clarify what you do, as I see it already is a ratio (2nd chart on left)

[EuroTrash]

The last two times the graph looked like this, the price rallied.

When everyone panics --> price recovers.
When everyone says "rocket to the moon" --> price falls.

So I am not pleased with you promoting bullish sentiments. 
Please go back panic with the others, or the party is over. 

[razibuzouzou]

Anyone know the bid ask on the other exchanges, or maybe an overall average?

Hi, I am showing the bid ask sum for BTC-e on http://www.coinorama.net.
It's the second chart on the left (well actually, I divide the bid ask sum by the current rate so that if the ratio is > 1, it means that the bids sum is higher than asks sum).

Hey there, thanks for the link. Bookmarked and following, and looking for that > 1 ratio  
Any more info on the charts or things to keep an eye out on? I'm still in the learning phase.

Appreciated,
IAS

edit - can you clarify what you do, as I see it already is a ratio (2nd chart on left)

Thanks for following
The second chart on the left is : normalized_ratio = (sum bids / sum asks) /  current_rate
What you were looking for initially was : ratio = (sum bids / sum asks)
Switching from the regular ratio to the normalized one is pretty straightforward, I should add an option to do that !

[Its About Sharing]

Anyone know the bid ask on the other exchanges, or maybe an overall average?

Hi, I am showing the bid ask sum for BTC-e on http://www.coinorama.net.
It's the second chart on the left (well actually, I divide the bid ask sum by the current rate so that if the ratio is > 1, it means that the bids sum is higher than asks sum).

Hey there, thanks for the link. Bookmarked and following, and looking for that > 1 ratio  
Any more info on the charts or things to keep an eye out on? I'm still in the learning phase.

Appreciated,
IAS

edit - can you clarify what you do, as I see it already is a ratio (2nd chart on left)

Thanks for following
The second chart on the left is : normalized_ratio = (sum bids / sum asks) /  current_rate
What you were looking for initially was : ratio = (sum bids / sum asks)
Switching from the regular ratio to the normalized one is pretty straightforward, I should add an option to do that !

It says it is an ask/bid ratio (not bid/ask ratio), so I'm confused a bit as to what I am looking for.
Can you walk me through an example, please? 

[crumbcake]

Just opened the first page of this thread by accident.  It's morning here, took a few posts for the mistake to sink in   Things look a bit better.

http://s8.postimg.org/qs2k1t89h/Untitled_1.jpg

[ChartBuddy]

[razibuzouzou]

It says it is an ask/bid ratio (not bid/ask ratio), so I'm confused a bit as to what I am looking for.
Can you walk me through an example, please?  

Damn, sorry about that. The label of the chart was not correct !
I just fixed it and added a checkbox so that you can disable normalization of the total Bids/Asks ratio.
So now, you have :
bids/asks ratio = (sum bids / sum asks)
normalized bids/asks ratio = (sum bids / sum asks) /  rate

Please reload the page until you see the checkbox

ps: sorry guys for those off-topic messages, Coinorama.net has its own thread here : http://bitcointalk.org/index.php?topic=216861.0

[ChartBuddy]