Something's got to give in the next few days - page 2.

serenitys

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Be Here Now

Quote from: Ibian on May 18, 2014, 10:04:01 PM

Quote from: serenitys on May 18, 2014, 09:28:45 PM

6. let's say we all wake up tomorrow and nothing noteworthy has happened, no wars, storms, collapses...it's just a non eventful news day but the btc charts show the price has plummeted to $30 with a downward trend. How would you read that or react? Would something like a serious drop to less than $50 change your opinion on the overall worth and viability of bitcoin tech and as a currency?

These annoy me. "What if something that can't possibly happen happens?". Everything has a reason.

And I asked what might that reason be and how you would react to it, what you would attribute it to in that sort of condition. It's not a fantastical question. I'm dead serious. We see jack squat going on for what, a month or so now in spite of good and bad news. So this market is not brainfeeding off the daily news from China. Therefore, if it's not a news thing and everything is relatively normal to what factors would you attribute a sudden drop? I was looking for a drop but the question applies equally to a sudden upswing, though less people would give a shit if it goes up...everyone would be asking WHAT HAPPENED if it dropped to 50 bucks or less.

And this is the speculation forum. So, if you're annoyed speculating, you're in the wrong place. Otherwise, speculate! Thanks

Ibian

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Quote from: serenitys on May 18, 2014, 09:28:45 PM

6. let's say we all wake up tomorrow and nothing noteworthy has happened, no wars, storms, collapses...it's just a non eventful news day but the btc charts show the price has plummeted to $30 with a downward trend. How would you read that or react? Would something like a serious drop to less than $50 change your opinion on the overall worth and viability of bitcoin tech and as a currency?

These annoy me. "What if something that can't possibly happen happens?". Everything has a reason.

JimboToronto

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You're never too old to think young.

Quote from: ElectricMucus on May 17, 2014, 02:41:43 PM

Religious fanatics are hilarious! Cheesy

Indeed. Especially those who follow the zany doctrines of religious leaders like Jimmy Jones, Ralph Nelson Elliott or Sun Myung Moon.

Totally hilarious. Grin

Benjig

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This summer will be quiet.. but in the fall the action will begin Wink

serenitys

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Be Here Now

Questions

1. What's a wall and where is it? (Or, I guess how do you know what/where it is looking at any chart?)
2. I looked at bitcoinwisdom chart and see a white line downward and a tan line upward that theoretically will converge at some point. How do you read that and what do those lines/colors represent?
3. Re above, on the convergence point - is this what you mean also when you refer to the lines crossing? Is it based on the time frames from before, like reading by the months you calculate a timeframe for when they will cross and is why people think mid to late summer is when things get active either direction?
4. What happens if the lines don't intersect anytime soon and it just kind of flatlines?
5. Is it possible to just buy/sell (day trading wise) with 1 or 2 btc at a time or is day trading done with way way more funds as a rule?

Finally, the fun one:

6. let's say we all wake up tomorrow and nothing noteworthy has happened, no wars, storms, collapses...it's just a non eventful news day but the btc charts show the price has plummeted to $30 with a downward trend. How would you read that or react? Would something like a serious drop to less than $50 change your opinion on the overall worth and viability of bitcoin tech and as a currency?

Thanks Cheesy

piramida

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Borsche

Quote from: Wilhelm on May 18, 2014, 10:37:02 AM

Yes you are correct our definition of whale is different.

Whale Definition:
In sales terminology, a whale is a prospect at least 10 times larger than your average sale.

Since the average sale in the current market is <1 BTC I find someone putting up a 200+ BTC wall a whale.

Then mostly everybody here is a whale, nice

But why you are using sales terminology, one thing is hunting a contract 10 times your average one, the other thing is trading commodity where 0.1 btc bots dominate the market. Any noticeable market moves at these price levels can be achieved starting from 2-3k BTC, anything below that is noise - call it whale noise if you like, does not change a fact that it is irrelevant

Wilhelm

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Quote from: piramida on May 18, 2014, 09:09:52 AM

Quote from: Wilhelm on May 18, 2014, 07:50:31 AM

Quote from: piramida on May 18, 2014, 06:53:36 AM

Quote from: Wilhelm on May 18, 2014, 06:48:07 AM

Looking at BTC-e there are a few big buy/sell walls around this price.
Assuming these are real walls some whales are trying to force bitcoin into a narrow price band to make money on small fluctuations.

The sell wall is BTC238 @ $441 and the buy wall is BTC62 @ $439.3

In my opinion it will have to break in the oncoming days. Since I believe bitcoin wants to go up it will take some days to eat away those BTC238.

Really? Now your usual range trading with 100k is a whale wall somehow? That's not even a shark, just somebody making themselves some lunch money.

I don't really fully understand your comment.

I understood that you are implying that some whale is manipulating the price into a narrow band with a 200 btc order

Unless our definition of whale differs, this is just some guy trying to earn hundred dollars on what little volatility there is left. And of course, any real move by a whale whale would be in thousands of coins at once, instantly eating through this little "walls" on all exchanges.

Yes you are correct our definition of whale is different.

Whale Definition:
In sales terminology, a whale is a prospect at least 10 times larger than your average sale.

Since the average sale in the current market is <1 BTC I find someone putting up a 200+ BTC wall a whale.

NotLambchop

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Quote from: RandomPedestrianN9 on May 17, 2014, 02:35:05 PM

...
Is it unethical to sell something that doesnt exist to someone who believes it exists? ...

Not at all. Done on the securities forum all the time.

piramida

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Borsche

Quote from: Wilhelm on May 18, 2014, 07:50:31 AM

Quote from: piramida on May 18, 2014, 06:53:36 AM

Quote from: Wilhelm on May 18, 2014, 06:48:07 AM

Looking at BTC-e there are a few big buy/sell walls around this price.
Assuming these are real walls some whales are trying to force bitcoin into a narrow price band to make money on small fluctuations.

The sell wall is BTC238 @ $441 and the buy wall is BTC62 @ $439.3

In my opinion it will have to break in the oncoming days. Since I believe bitcoin wants to go up it will take some days to eat away those BTC238.

Really? Now your usual range trading with 100k is a whale wall somehow? That's not even a shark, just somebody making themselves some lunch money.

I don't really fully understand your comment.

I understood that you are implying that some whale is manipulating the price into a narrow band with a 200 btc order

Unless our definition of whale differs, this is just some guy trying to earn hundred dollars on what little volatility there is left. And of course, any real move by a whale whale would be in thousands of coins at once, instantly eating through this little "walls" on all exchanges.

Wilhelm

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Quote from: CoinRocka on May 18, 2014, 08:02:45 AM

The quicker bitcoin gets to a million dollars per, the better everyone will be Grin

True but I will be living in a nice house well before that day Cool

CoinRocka

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The quicker bitcoin gets to a million dollars per, the better everyone will be Grin

tuneman1980

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Yeah, historical price volatility keeps dropping. http://cryptocoinstats.com/volatilitytracker.php

Wilhelm

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Quote from: ElectricMucus on May 18, 2014, 07:47:34 AM

walls on btc-e can be deceptive because they hide the orderbook top and down of the price.

True and sometimes walls have the tendency to vanish since they don't actually want to sell/buy :-)

Wilhelm

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Quote from: piramida on May 18, 2014, 06:53:36 AM

Quote from: Wilhelm on May 18, 2014, 06:48:07 AM

Looking at BTC-e there are a few big buy/sell walls around this price.
Assuming these are real walls some whales are trying to force bitcoin into a narrow price band to make money on small fluctuations.

The sell wall is BTC238 @ $441 and the buy wall is BTC62 @ $439.3

In my opinion it will have to break in the oncoming days. Since I believe bitcoin wants to go up it will take some days to eat away those BTC238.

Really? Now your usual range trading with 100k is a whale wall somehow? That's not even a shark, just somebody making themselves some lunch money.

I don't really fully understand your comment.

Yes whales usually are bigger but with the current volume levels 238 BTC (100k) is a significant amount of money in my opinion.
Yes trading in such a small band will only earn you lunch money. But many little profits can amount to big profits.

ElectricMucus

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Marketing manager - GO MP

walls on btc-e can be deceptive because they hide the orderbook top and down of the price.

piramida

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Borsche

Quote from: Wilhelm on May 18, 2014, 06:48:07 AM

Looking at BTC-e there are a few big buy/sell walls around this price.
Assuming these are real walls some whales are trying to force bitcoin into a narrow price band to make money on small fluctuations.

The sell wall is BTC238 @ $441 and the buy wall is BTC62 @ $439.3

In my opinion it will have to break in the oncoming days. Since I believe bitcoin wants to go up it will take some days to eat away those BTC238.

Really? Now your usual range trading with 100k is a whale wall somehow? That's not even a shark, just somebody making themselves some lunch money.

Wilhelm

legendary

Activity: 1652

Merit: 1265

Looking at BTC-e there are a few big buy/sell walls around this price.
Assuming these are real walls some whales are trying to force bitcoin into a narrow price band to make money on small fluctuations.

The sell wall is BTC238 @ $441 and the buy wall is BTC62 @ $439.3

In my opinion it will have to break in the oncoming days. Since I believe bitcoin wants to go up it will take some days to eat away those BTC238.

zimmah

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Quote from: Unluckyduck on May 17, 2014, 09:11:33 PM

No-one is gonna shift in the next few days but perhaps in the coming weeks we'll see some movement. The stability has been kinda nice though.

Actually looking back at the previous trends, every time the price has stabilized it was immediatly followed by a large spike in price.

Pepin

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Uh-oh! Price fluctuations are reaching a singularity! Based on the quantum economic theory, within days we will see prices ranging from $0.01 to $1,000,000,000.... EVERY SECOND!

segeln

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Quote from: chessnut on May 17, 2014, 08:33:35 PM

Those who believe TA is bogus probably believe fundamentals determine price. But how can one believe that fundamentals determine price and yet price does not reflect fundamentals? TA is a legit perspective of fundamentals. Furthermore price/time alongside simple laws of economics is in fact a wave system that can be described by science.

+1

Topic: Something's got to give in the next few days - page 2. (Read 4114 times)