Today I learned not to be manipulated by walls.
Wait, wrong thread.
Topic: Rally!!!!! - page 5. (Read 81262 times)
the pressure is there. remember this key concept: "WALLS ARE FOR MARKET MANIPULATION ONLY" the agenda behind putting up a wall is never to buy or sell coins but to keep the price high/low before a set time to make a switch (ie. this weekend). the reason they want to keep the price low till the weekend is they don't want to have as much competition for cheap coins. All the REAL trades are done in "the trenches." When people actually want to buy or sell coins they will do it "in the trenches" discreetly selling/buying a couple hundred coins at a time.
So essentially what i'm saying may sound counter-intuitive but here's what i think of "walls" : A large ask wall thats up all day friday is a BULLISH sign. Assuming that they make the switch to the Bid side when the banks close. also a large bid wall thats up all day sunday is a BEARISH sign, because they plan on switching to the ask side when banks open.
The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side. this is because the bid side is full of "real" traders. People who actually want to buy coins. any time the price changes up or down the bid side is always buying "in the trenches"
Right now, in my opinion, the people that are selling "in the trenches" are being manipulated by that ask wall.
So essentially what i'm saying may sound counter-intuitive but here's what i think of "walls" : A large ask wall thats up all day friday is a BULLISH sign. Assuming that they make the switch to the Bid side when the banks close. also a large bid wall thats up all day sunday is a BEARISH sign, because they plan on switching to the ask side when banks open.
The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side. this is because the bid side is full of "real" traders. People who actually want to buy coins. any time the price changes up or down the bid side is always buying "in the trenches"
Right now, in my opinion, the people that are selling "in the trenches" are being manipulated by that ask wall.
Wow I actually learned something important here. Thanks!
this is why you should ignore walls. in fact, you should almost see them as an indicator of a switch
The almost perfectly linear Diagonal line shape of the bid side is much more healthy than the "r" shape of the ask side.
What about manipulators creating this "organic" line shape at the bid side (maybe via some script)?
bottom line is: no matter if its a bot or a bunch real traders, Linear diagonal lines are signs that they actually want to buy/sell. Walls are signs that they don't.
this explains why that counter-argument doesn't make sense.
PLZ STOP GETTING MANIPULATED BY WALLS!! WE CAN FIX THIS OBVIOUS MANIPULATION IF YOU UNDERSTAND HOW IT WORKS
And higher volume on the pullback isn't good for the bulls either. One day doesn't make a trend though so what matters is how things go from here.
But it isn't. PVT is still up.It isn't a reliable indicator though.
A pullback was to be expected, but dropping nearly $2 in 15 mins was f-ed up. The rally on the daily chart is still intact, but looks like we will put in a pretty ugly candle today.
It wasn't too effed up. It took half as many BTC to push the price up to $9.69 as it did to drop it to $7.50. It was a great idea to take advantage and pull a profit.
I agree that for people actively trading it was very smart to take profits into that rally since it was obviously unsustainable (and likewise dumb to buy into it). But it still added up to pretty ugly action for the day. A more orderly pullback would have been better for the bulls. And higher volume on the pullback isn't good for the bulls either. One day doesn't make a trend though so what matters is how things go from here.
One big sell off and this will trace back to 7.50-8.00 if not lower
let me just quote myself about 5 hours ago
edit: where is proudhon so I can give him a big bear hug
A pullback was to be expected, but dropping nearly $2 in 15 mins was f-ed up. The rally on the daily chart is still intact, but looks like we will put in a pretty ugly candle today.
It wasn't too effed up. It took half as many BTC to push the price up to $9.69 as it did to drop it to $7.50. It was a great idea to take advantage and pull a profit.
A pullback was to be expected, but dropping nearly $2 in 15 mins was f-ed up. The rally on the daily chart is still intact, but looks like we will put in a pretty ugly candle today.
Quite a few panic sold on LTC, I for myself held back.
Mmm, like I thought, there's nothing real behind this rally. Skyrocketing to $9.50, then instantly plunging to $7.60. Yeah, that's rational. The last time we saw action like this was someone playing with stolen bitcoins. Bitconica got cleaned out (again) recently, so who knows? This forum being inaccessible for a few hours during the market turmoil also seems a little too convenient.
Don't let the excitement of $9+ get to your heads, we could be in the low $7s in an instant. Don't let the bid 'walls' fool you either.
Don't let the excitement of $9+ get to your heads, we could be in the low $7s in an instant. Don't let the bid 'walls' fool you either.
the bid wall is real, just watch it get sold into... (lucky Manipulator about to get a fuck load of coins)
all you guys that think the price is all smoke a minors, you should sell now, if it is all smoke a minors then you have nothing to worry about
Got to love small market capitalization...
OH hai bitcoinica hacker, send me some coins plz? kthx
1EuJ9HCsrqeQZW3LHCopbUpVwQctv3TNPP
Lets see what we have:
-) bunch of stolen BTC and USD
-) crazy ramp
-) forum DOSed during the crunch
1EuJ9HCsrqeQZW3LHCopbUpVwQctv3TNPP
Mmm, like I thought, there's nothing behind this rally. Skyrocketing to $9.50, then instantly plunging to $7.60. Yeah, that's rational. The last time we saw action like this was someone playing with stolen bitcoins. Bitconica got cleaned out (again) recently, so who knows? This forum being inaccessible for a few hours during the market turmoil also seems a little too convenient.
Don't let the excitement of $9+ get to your heads, we could be in the low $7s in an instant. Don't let the bid 'walls' fool you either.
+1Don't let the excitement of $9+ get to your heads, we could be in the low $7s in an instant. Don't let the bid 'walls' fool you either.
Lets see what we have:
-) bunch of stolen BTC and USD
-) crazy ramp
-) forum DOSed during the crunch
I really want to say that Pirate is behind a lot of the chaos today.
he got the price to move up today only to sell out, and hoped for some panic... problem is no one is playing with him, we just keep on buying
I really want to say that Pirate is behind a lot of the chaos today.
Mmm, like I thought, there's nothing real behind this rally. Skyrocketing to $9.50, then instantly plunging to $7.60. Yeah, that's rational. The last time we saw action like this was someone playing with stolen bitcoins. Bitconica got cleaned out (again) recently, so who knows? This forum being inaccessible for a few hours during the market turmoil also seems a little too convenient.
Don't let the excitement of $9+ get to your heads, we could be in the low $7s in an instant. Don't let the bid 'walls' fool you either.
Don't let the excitement of $9+ get to your heads, we could be in the low $7s in an instant. Don't let the bid 'walls' fool you either.
9.49$
[/size]This is madness!
9.49...so we gonna see double digits soon?
yes 
9.49...so we gonna see double digits soon?
Buy wall moved up. See you all at $10 unless somebody with some serious coin sells into that wall.
Impossible that this is going to hold!
I keep thinking this and it keeps proving me wrong!
Bitstamp has some 300 coins at $8.8 left.. 
Buy wall moved up. See you all at $10 unless somebody with some serious coin sells into that wall.
Impossible that this is going to hold!
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