I say it hits 96 and bounces, and stays. Elliot wave, downwards. 3 or 5, depending on how you count it- this is the last one

(On btce)

I bought in at 97 So much for that whole Elliot wave thing... Grrrrr

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?