What is Order book?
The list of outstanding buy and sell orders at each price level on an exchange.
The book shows resting intent at a moment in time. It is not a forecast: orders can be cancelled instantly, and displayed depth is routinely used to create impressions rather than to trade.
Reading a book is useful for understanding execution cost. It is close to useless for predicting direction.
Related terms
Keep learning
This definition is part of the Bitcoin Logical glossary. For the fuller explanation, start with Learn, or see the live numbers on The Bitcoin Signal.