Quote from: Richy_T on May 05, 2013, 04:33:53 AM

Quote from: Lgetty17 on May 05, 2013, 04:01:58 AM

To me, the shallowness of the slope on the "bid" side tells me that the market is headed downward soon. As bitcoins are bought and sold regularly, the fact that the "ask" side is so much higher than the "bid" side means that it is going to take more trading to move is up. The gap will always close, and more than likely both sides will move equally, basically, so the price will move down... Is my thinking generally correct?

TL;DR- Am I correct in thinking that if the slope of the ask side is > bid side then the market is generally headed downward and vice versa?

On the way down, the bid side was pretty steep. I think that's a side-effect of it getting eaten into.

+1

Though I don't think we have the volume to eat 120 anyway so we'll probably see it drop either way.