today was a low volume day
~10,230 coins were traded for ~6,800,000$
price ranged from 675 - 650
i'm pretty sure depth on both sides is meaningless
How can depth be meaningless? The ask end filled, the bid side didnt.
orderbooks at Bitstamp filling up. 7000coins to 700 and 600 each. That's a toughy to beat. Maybe we will hover around 650$ for a longer time...
Unfortunately the only side filling up is the ask end. Bids have fallen below 16m and asks are above 20k now.
Who cares about the number of all bids or asks? Important are the coins to an realistic level. So maybe +-200$. And what does a sell order at 780$ mean? It just means, that a person would sell for this price if it jumps that high in the time he sleeps. If the price slowly rises, he might no sell at all...
But what does matter are the orders near the price.
btw: The orderbook of Bitstamp.net says there are 7450btc including 700$, Bitcoinwidsom only says 4470?
700 got 8k in asks. Over 24 hours.
Also, bitcoinwisdom is absolute garbage and I wish people would stop using it.
