Bitcoin Thread

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That was some selloff on Luno. For once my patience has paid off and I managed to get back in right at the bottom at R128k without fees.
 
One thing i need to figure out is how to see the volume over the last few hours...
I know where you can see on Luno the volume but that seems to be live Volume.
I have the Investing.com open with Volume but not sure if im reading it right...

Why is the volume outdated(If that is the right word) and there is no volume where i marked in red?

Capture.JPG

While on Luno the sell volume is higher that the buy volume but that is live and does not include the history for the last few hours?
Capture.JPG

So if i read that correct it is still going down at the moment?
 
TheWall said:
One thing i need to figure out is how to see the volume over the last few hours...
I know where you can see on Luno the volume but that seems to be live Volume.
I have the Investing.com open with Volume but not sure if im reading it right...

Why is the volume outdated(If that is the right word) and there is no volume where i marked in red?

View attachment 505111

While on Luno the sell volume is higher that the buy volume but that is live and does not include the history for the last few hours?
View attachment 505113

So if i read that correct it is still going down at the moment?
Click to expand...
My understanding: What you are looking at in Luno are the orders in the system. The historic volume is at the bottom of the chartScreenshot_2018-03-07-09-01-53.jpg
 
Ok, so orders in the system is maybe the better word work orders in the system = Volume?

Well i bought now at R129500...

Now it can go to the moon. (:
 
I'm as noob to this as they come but I would say orders in the system is not equal to volume. People move their orders around according to the price movement. Sometimes large walls just fall over and never translate into volume as people adjust orders to but at best price.

To the moon ===>>>
 
TheWall said:
Ok, so orders in the system is maybe the better word work orders in the system = Volume?

Well i bought now at R129500...

Now it can go to the moon. (:
Click to expand...

Not quite following what you're asking...

The depth chart you posted is a visual of the current orderbook.
 
What im trying to figure out is what the people are talking about and looking at if they say there is lots of volume...
 
TheWall said:
What im trying to figure out is what the people are talking about and looking at if they say there is lots of volume...
Click to expand...
The volume traded per time period on large exchanges I would think. Volumes on pissy domestic exchanges mean nothing.
 
TheWall said:
What im trying to figure out is what the people are talking about and looking at if they say there is lots of volume...
Click to expand...

volume <> orderbook

volume is after the fact -- order book shows whats happening currently (also exchanges allow hidden orders which is a huge spanner as they say)

also what we mean is basically price rising on the purchase of 5 bitcoins is very shaky as opposed to price rising on purchase of 5000 bitcoins. when moves happen they are usually confirmed by a spike in volume if the move happen on low volume is likely not to hold. (in either direction)

so for future reference - if and when we do get to 11700 again, in order to convincingly move above that price level we would need to see massive volumes of bitcoin being purchased. if it happens on low volume, we will see rejection again.
 
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Started dropping after this "Bitcoin Falls After U.S. Judge Rules Cryptocurrencies a Commodity"
 
I see some people saying that it was a trading bot that lots of people use which was hacked. It dumped lots of alts and pumped some other coins.

The whole crypto market is going to be a mess for the next day if true.
 
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