There's another way to look at it, a better one IMO: dynamically/as change over time.


In that view, bid/ask depth ratio (price normalized in the charts below) on bitstamp and btcchina has been largely stable for the past week, with a very weak decline until yesterday, and a slight upwards slope since today, while the ratio went trough the roof on mtgox.


I take that as a pretty positive sign. Doesn't mean I'm sure we're going up, further consolidation is still quite likely, but I don't see many bearish signs on the order book.