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Can someone please give me a basic intro to the following chart?
- What do those bars mean?
- What does that yellow line mean?
- What do the green and red bits mean?
Reading a bitcoin chart
Answers
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The blue bars indicate the transaction volume in that period, this is how many bitcoins have been traded. Use the blue numbers at the left axis to see how many bitcoins were traded.
The yellow line is the average weighted price in that period. Use the yellow numbers on the right to see what the price is.
The green and red parts show the fluctuations (high & low) around the average price. It shows that at 16h00 there was a trade at a price above 1000 (USD I guess). However this could be a single trade of 0.001 BTC for 1 dollar... You cannot derive this from the chart.
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Just click on the "WTF?" link in the top-right corner, and it's all explained on the very page you're looking at.
1I missed that. I didn't have WTF associated to anything useful in my mind, so didn't bother clicking it... – oshirowanen – 2013-11-22T12:42:17.590
1I didn't spot it myself until a couple of weeks after I started tracking bitcoin there :) – Codemonkey – 2013-11-22T13:04:10.563
-1 (if I had the rep to do it): The question is about this type of graph, with no explanation where it came from, therefore the answer doesn't doesn't do any explanation. – LJNielsenDk – 2013-11-22T14:25:04.377
The URL of the site the OP was asking about: http://bitcoinity.org/markets/bitstamp/USD
Definitely not USD as the value (450ish) is too low. And the volume is too low for GBP. Something relatively obscure from a non-english speaking country, I'd wager. – Codemonkey – 2013-11-22T12:08:07.067