Sorry for asking such a basic question but I'm still not sure I fully understand how to read these charts:
For example I took this order book print from Bitstamp 5 minutes ago. Doesn't it mean basically that there is a lot more depth in the bid side compared to the ask side? So isn't that a very bullish signal (more people want to buy than sell)? But I often see similar charts without very bullish comments, which makes me wonder if I'm not understanding some factor here?
http://i.imgur.com/nHAFfxP.jpg
For example I took this order book print from Bitstamp 5 minutes ago. Doesn't it mean basically that there is a lot more depth in the bid side compared to the ask side? So isn't that a very bullish signal (more people want to buy than sell)? But I often see similar charts without very bullish comments, which makes me wonder if I'm not understanding some factor here?
http://i.imgur.com/nHAFfxP.jpg
It's what you can't see on the order book that you have to consider too. Some whales seem to wait until the bid depth has risen sufficiently, then they dump 2 or 5 or even 10 thousand coins into the bid side. I think that's why some people get nervous when the order book fills up on the bid side like that