Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33121. (Read 26496428 times)
June 15, 2013, 08:40:46 AM
could anyone point me to a site where I can see the PSAR? ('cept for bitcoincharts.com)
June 15, 2013, 08:38:36 AM
June 15, 2013, 08:34:32 AM
bid sum/ask sum = USD/btc
price = USD/btc
price = USD/btc
does it mean that the sum of all bids is expressed in USD and the sum of all the asks is expressed in BTC?
sorry for noob question
June 15, 2013, 08:18:34 AM
bid/ask sum has just crossed price, bullish signal.
They are both on dfferent scales ... change the scale and you can make them cross anywhere you want
I was referring to the first graph, if you disagreee, you'd better go for an eye check.
You are wrong ... if you disagree go take a maths test
The numbers are the same but the units are different ... think about it ... how can bid sum/ask sum be expressed in dollars ??
bid sum/ask sum = USD/btc
price = USD/btc
June 15, 2013, 08:15:55 AM
bid/ask sum has just crossed price, bullish signal.
They are both on different scales ... change the scale and you can make them cross anywhere you want
You're looking at the wrong graph. The bid/ask sum gives an indication of how much fiat there is on the orderbook compared to the amount of coins for sale. If the number is higher than the current price level that usually is a bullish sign. It has been that way all the way up to $266, and it has been lower since we established the current downtrend. Now it's crossing over again, which could indicate a trend reversal.
They number may be the same, but they are in different units ... Bid/ask sum is in %, price is in $.
I don't deny that there is some correlation between bid/ask sum and price but looking at the crossover point seems arbitrary to me
But feel free to use it as a trading indicator if you wish ... it's your money
It's not the only indicator I look at, but yes I do think it's useful. When bids are piling up at a faster rate than the asks then it's not strange to think that the price might be going up at some point. Also bids have been steadily on the rise since Monday, it's not a sudden spike or something which could point to manipulation or a big move from only one or a few whales.
June 15, 2013, 08:07:46 AM
Sucker rally deflating... good thing I added more money to the exchange.
June 15, 2013, 08:00:30 AM
June 15, 2013, 07:57:30 AM
Bids are not lowering, it just looks that way now because the price went up from 98-ish to 102. That also makes the ask side look more in balance with the bid side now, I guess double digits are just not sustainable (yet?).
Ahhh, I see your point. I really don't think double digits are sustainable either - sustainable being the key word. We may have buyers come in and jack the price up but there are many many people who would like to sell in the $100 + range, so I don't see a prolonged rally unless those buyers start coming in force. For that we need something - news, another bank to go under, interest rates to really rise, etc.
I don't like being in Fiat but I get the feeling we will slowly settle below 100. I worked some numbers by studying the chart (and past charts) and came up with a bounce off the $90 range on our way down. The other points on the way down (not saying we reach all of them) is 82, 68 and 60. Maybe low 50's but I think the buying won't let that happen, too many people want it. Depending on how long the downward movement goes on, I'd "guess" the $68 region is more likely, we'll have to see how people react.
Any chance of teasing an explanation from you...?
When I traded many years ago I was almost exclusively a candlestick guy. Well, I started going through the old "crash" last night and comparing it to the new one. I broke the chart down into an hourly one (and there abouts) and focussed on some of the key volume spikes on the move down. But, I also was looking at the formation of the old (2011) bubble and what was interesting is that on the way up, there was a disturbance in the smooth rise, and on the way down that disturbance clearly acted as support. So, instead focussing on the move down (which I looked closely at) I was also trying to correlate things to the move up. In a way, you can call it like an expected "mirror approach". The current bubble is not quite as pronounced, but just observe the chart and look for these mirror spots. I'm not saying it will work, but it doesn't really disagree with the move downs support levels. I did some eyeball averaging as well and it all seemed to add up. The bounces are quite predictable (but I'm not really a trader per say). That is the short of it.
interesting, thanks.
June 15, 2013, 07:56:05 AM
Cool. Thanks!
June 15, 2013, 07:49:38 AM
bid/ask sum has just crossed price, bullish signal.
They are both on dfferent scales ... change the scale and you can make them cross anywhere you want I was referring to the first graph, if you disagreee, you'd better go for an eye check.
Maybe
June 15, 2013, 07:49:27 AM
Bids are not lowering, it just looks that way now because the price went up from 98-ish to 102. That also makes the ask side look more in balance with the bid side now, I guess double digits are just not sustainable (yet?).
Ahhh, I see your point. I really don't think double digits are sustainable either - sustainable being the key word. We may have buyers come in and jack the price up but there are many many people who would like to sell in the $100 + range, so I don't see a prolonged rally unless those buyers start coming in force. For that we need something - news, another bank to go under, interest rates to really rise, etc.
I don't like being in Fiat but I get the feeling we will slowly settle below 100. I worked some numbers by studying the chart (and past charts) and came up with a bounce off the $90 range on our way down. The other points on the way down (not saying we reach all of them) is 82, 68 and 60. Maybe low 50's but I think the buying won't let that happen, too many people want it. Depending on how long the downward movement goes on, I'd "guess" the $68 region is more likely, we'll have to see how people react.
Any chance of teasing an explanation from you...?
When I traded many years ago I was almost exclusively a candlestick guy. Well, I started going through the old "crash" last night and comparing it to the new one. I broke the chart down into an hourly one (and there abouts) and focussed on some of the key volume spikes on the move down. But, I also was looking at the formation of the old (2011) bubble and what was interesting is that on the way up, there was a disturbance in the smooth rise, and on the way down that disturbance clearly acted as support. So, instead focussing on the move down (which I looked closely at) I was also trying to correlate things to the move up. In a way, you can call it like an expected "mirror approach". The current bubble is not quite as pronounced, but just observe the chart and look for these mirror spots. I'm not saying it will work, but it doesn't really disagree with the move downs support levels. I did some eyeball averaging as well and it all seemed to add up. The bounces are quite predictable (but I'm not really a trader per say). That is the short of it.
June 15, 2013, 07:48:59 AM
bid/ask sum has just crossed price, bullish signal.
They are both on dfferent scales ... change the scale and you can make them cross anywhere you want I was referring to the first graph, if you disagreee, you'd better go for an eye check.
June 15, 2013, 07:46:08 AM
bid/ask sum has just crossed price, bullish signal.
They are both on dfferent scales ... change the scale and you can make them cross anywhere you want
You're looking at the wrong graph. The bid/ask sum gives an indication of how much fiat there is on the orderbook compared to the amount of coins for sale. If the number is higher than the current price level that usually is a bullish sign. It has been that way all the way up to $266, and it has been lower since we established the current downtrend. Now it's crossing over again, which could indicate a trend reversal.
June 15, 2013, 07:44:10 AM
bid/ask sum has just crossed price, bullish signal.
They are both on dfferent scales ... change the scale and you can make them cross anywhere you want
http://archive.org/details/HowToLieWithStatistics
June 15, 2013, 07:43:12 AM
bid/ask sum has just crossed price, bullish signal.
They are both on dfferent scales ... change the scale and you can make them cross anywhere you want
I was referring to the first graph, if you disagreee, you'd better go for an eye check.
It's coincidental.
June 15, 2013, 07:40:58 AM
bid/ask sum has just crossed price, bullish signal.
They are both on dfferent scales ... change the scale and you can make them cross anywhere you want
I was referring to the first graph, if you disagreee, you'd better go for an eye check.
June 15, 2013, 07:30:39 AM
bid/ask sum has just crossed price, bullish signal.
June 15, 2013, 07:26:40 AM
Bids are not lowering, it just looks that way now because the price went up from 98-ish to 102. That also makes the ask side look more in balance with the bid side now, I guess double digits are just not sustainable (yet?).
Ahhh, I see your point. I really don't think double digits are sustainable either - sustainable being the key word. We may have buyers come in and jack the price up but there are many many people who would like to sell in the $100 + range, so I don't see a prolonged rally unless those buyers start coming in force. For that we need something - news, another bank to go under, interest rates to really rise, etc.
I don't like being in Fiat but I get the feeling we will slowly settle below 100. I worked some numbers by studying the chart (and past charts) and came up with a bounce off the $90 range on our way down. The other points on the way down (not saying we reach all of them) is 82, 68 and 60. Maybe low 50's but I think the buying won't let that happen, too many people want it. Depending on how long the downward movement goes on, I'd "guess" the $68 region is more likely, we'll have to see how people react.
Any chance of teasing an explanation from you...?
Pig sucker rally going on right now. I'm interested in the analysis too.
I agree it looks like a 'sucker' rally. Saturday morning too.
Just look at the bids on $90 - 6700 BTC required. That's enough to bounce a few times on the way down unless it's cancelled before it gets there of course.
Yes WE is still long, too long to easily predict the outcome.
However we are back well over 100$ and that's the surprise, let's face it.
Now time to closely monitor 105$ area ...
June 15, 2013, 07:21:51 AM
Bids are not lowering, it just looks that way now because the price went up from 98-ish to 102. That also makes the ask side look more in balance with the bid side now, I guess double digits are just not sustainable (yet?).
Ahhh, I see your point. I really don't think double digits are sustainable either - sustainable being the key word. We may have buyers come in and jack the price up but there are many many people who would like to sell in the $100 + range, so I don't see a prolonged rally unless those buyers start coming in force. For that we need something - news, another bank to go under, interest rates to really rise, etc.
I don't like being in Fiat but I get the feeling we will slowly settle below 100. I worked some numbers by studying the chart (and past charts) and came up with a bounce off the $90 range on our way down. The other points on the way down (not saying we reach all of them) is 82, 68 and 60. Maybe low 50's but I think the buying won't let that happen, too many people want it. Depending on how long the downward movement goes on, I'd "guess" the $68 region is more likely, we'll have to see how people react.
Any chance of teasing an explanation from you...?
Pig sucker rally going on right now. I'm interested in the analysis too.
I agree it looks like a 'sucker' rally. Saturday morning too.
Just look at the bids on $90 - 6700 BTC required. That's enough to bounce a few times on the way down unless it's cancelled before it gets there of course.
June 15, 2013, 07:19:23 AM
Bids are not lowering, it just looks that way now because the price went up from 98-ish to 102. That also makes the ask side look more in balance with the bid side now, I guess double digits are just not sustainable (yet?).
Ahhh, I see your point. I really don't think double digits are sustainable either - sustainable being the key word. We may have buyers come in and jack the price up but there are many many people who would like to sell in the $100 + range, so I don't see a prolonged rally unless those buyers start coming in force. For that we need something - news, another bank to go under, interest rates to really rise, etc.
I don't like being in Fiat but I get the feeling we will slowly settle below 100. I worked some numbers by studying the chart (and past charts) and came up with a bounce off the $90 range on our way down. The other points on the way down (not saying we reach all of them) is 82, 68 and 60. Maybe low 50's but I think the buying won't let that happen, too many people want it. Depending on how long the downward movement goes on, I'd "guess" the $68 region is more likely, we'll have to see how people react.
Any chance of teasing an explanation from you...?
Pig sucker rally going on right now. I'm interested in the analysis too.
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