the spread has been more or less 1$ or ~1%, this is a pretty big spread... what do you think it means?
I think, its because of the recent wild price swing. First, all the bids from 109 to 87 get wiped out
. But! the market sees this a buying opportunity and ~30K BTC buy orders are executed, this bring the price for 88 right back up to 110 with practically 0 buying pressure ( no bid walls ) fueling the rally. recognizing the buying opportunity, the market has keep the price at this level despite the buying pressure lagging behind.
The spread will tighten as buyers acquire more confidence, and buyers will acquire more confidence, as the buying pressure comes back.
once buying pressure builds we will be heading higher, the price move Up, will encourage more buying pressure.
we are seeing this now! we had a false breakout today as buying pressure started showing signs of coming coming back.
were sitting on a launch pad people...
place your bids!
