Understanding Moody Order Book

[OnePoundFiish]

I've seen/heard of people making predictions on if the price per coin will be bearish or bullish in the immediate future. I've been studying and staring at the Order Book for quite some time and am having a hard time understanding how people come up with these conclusions based on the order book. Any ideas?

[tobobit]

http://www.cryptocoincharts.info/
helps too.

Even the bookorder will have fake sell walls and buy walls. (orders that move to always be just out of range, or orders that dissappear once they're tested)

[Acidman]

I too am having trouble with market analysis and if anybody wants to team up let me know because I have a degree in statistics that needs to be put to good use.

[Decagrog]

I've too a question about the moody chart, what exacly  represent the blue and yellow lines? The average values between ask and bid or a sort of short prediction?

[steve417674]

The blue and yellow lines are exponential moving averages (EMA).  The EMAs are a weighted average of the closing price, over a defined number of periods, with more weight given to the most recent price.  I don't know exactly how the lines are parameterized, but it's probably described in more detail in the corresponding forum thread:  https://bitcointalk.org/index.php?topic=43514.0.  You can disable the lines with the link directly underneath the chart: "Hide EMAs".

[overdone]

The blue and yellow lines are exponential moving averages (EMA).  The EMAs are a weighted average of the closing price, over a defined number of periods, with more weight given to the most recent price.  I don't know exactly how the lines are parameterized, but it's probably described in more detail in the corresponding forum thread:  https://bitcointalk.org/index.php?topic=43514.0.  You can disable the lines with the link directly underneath the chart: "Hide EMAs".

ah interesting thankx

[steve417674]

You can learn about technical indicators here:  http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators

You can use bitcoincharts to add moving averages and some indicators, but it does not update in real-time, nor are the charts interactive: http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv

BTC/USD does not trade like your typical real-world financial instrument, so take this all with a heavy dose of skepticism...

[doing]

good aaa

[M8R]

what site is better?

moody or bitcoinity.org?