Over the last week, I've watched what was looking like an interesing distortion in the bid/ask ratio. In checking the numbers late last week, it was 5:1. This morning it's 9:1, and these are upwards of $20,000 offers - not small change.
In my opinion, these are measured/calculated offers by those who are willing to wait for what they want, and seeing no rush to add for the moment. My point is, there are plenty of buyers (at the right price), and few sellers. This situation, in my opinion, offers support, and suggest that the price can explore significanly higher on the slightest positive news.