dudes. Look at the order book.
https://www.bitstamp.net/market/order_book/See that very shallowly sloping line on the left? That's bids.
See the cliff on the right? That's asks.
Looking at this, it appears that you have deep demand and short supply. Usually that means a price goes down.
Orderbooks are only part of the story. Those walls on bitstamp have been up for awhile, yet each time the price went crashing down, someone has been buying back up. The price has been kept stable for quite awhile. Why, even though those walls are like the walls of Jericho? Simply because people are eager to get past the 1000 dollar wall. They know that this is the cheapest that coins will get, because competition for those coins is fierce when right in front of a psychological treshold. And people who have large btc holdings know that people get frenzied right before a psychological treshold, so they make use of this situation in order to safely monetize their stock of btc without affecting the price too much. This results in a stalemate. But that wall won't last forever. Expect an explosion in price when it comes down.
agreed on the orderbooks part, I prefer to just watch the price action and see if it matches or defies my expectations. Right now price on gox has been just bashing it's head against a roughly 1090 resistance. Someone once told me the more times you test resistance, the more likely that you will break through.
On the flipside are the stamp and -e prices, -e is at 907 right now! with gox at 1078! It appears we have some non-believers.
(or the gox peeps just can't get their fiat out so they are transferring into btc just to get out.) <-*I can't speak from experience, it's just something I heard.
