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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17429. (Read 26709964 times)
April 08, 2017, 01:58:44 PM
April 08, 2017, 10:58:13 AM
Good morning Bitcoinland.
The battle for $1200 rages on... currently $1188USD (Bitcoinaverage).
This is the second day of sideways consolidation in the $1180-$1200 range.
It had crept over $1200 on some exchanges but that series of significant ask walls in the $1196-$1198 range at Stamp kept it from going up despite good chunks of those walls being eaten. Now those other exchanges are trading at less than $1200 as well.
Now it's the weekend. More consolidation or do they pull the walls and let the price move another leg up?
I think you have that backward.
3-4 years ago anything under a few thousand coins wasn't considered a wall at all. People still remembered when 10k coins only bought a couple of pizzas and 1k coin gifts were not uncommon. A mere 500 coin ask wasn't considered a wall, just a decent bump in the road, the price of a nice car.
Now 500 coins represents over half a million dollars, and can have a significant effect on the market.
Market cap isn't a big consideration in this. That 10k coin pizza represented a larger portion of Bitcoins total market cap than "Manbearwhale's" infamous 30k coin ask wall did in 2014. Now after 2 halvings and with most of the eventual total coins having already been mined, it's less and less of an issue.
The battle for $1200 rages on... currently $1188USD (Bitcoinaverage).
This is the second day of sideways consolidation in the $1180-$1200 range.
It had crept over $1200 on some exchanges but that series of significant ask walls in the $1196-$1198 range at Stamp kept it from going up despite good chunks of those walls being eaten. Now those other exchanges are trading at less than $1200 as well.
Now it's the weekend. More consolidation or do they pull the walls and let the price move another leg up?
I think 1000 BTC wall could have been considered a wall three years ago. Today a thousand BTC wall is more like a wooden fence.
I think you have that backward.
3-4 years ago anything under a few thousand coins wasn't considered a wall at all. People still remembered when 10k coins only bought a couple of pizzas and 1k coin gifts were not uncommon. A mere 500 coin ask wasn't considered a wall, just a decent bump in the road, the price of a nice car.
Now 500 coins represents over half a million dollars, and can have a significant effect on the market.
Market cap isn't a big consideration in this. That 10k coin pizza represented a larger portion of Bitcoins total market cap than "Manbearwhale's" infamous 30k coin ask wall did in 2014. Now after 2 halvings and with most of the eventual total coins having already been mined, it's less and less of an issue.
April 08, 2017, 08:24:49 AM
It was just a fake ETF pump&dump. It lasted for 2 minutes on that level. That ATH was just as fake as GOX.
The real ATH was on 3-3-2017 if you ask me.
The real ATH was on 3-3-2017 if you ask me.
real money was paid and real coins were bought. of course it was dumb exuberance but it happened.
April 08, 2017, 08:12:13 AM
The price right now is caught between 50% and 62% retracement of that high price to the low afterwards of 993. Or if taking the eventual low of 2 weeks later of 890 that also fits price movements, the lows of the last week meet 62% return to the highs which is a price of about 1170. Some people follow that as bands of strength to gauge progress.
1170 also matches the January high so it would appear fairly significant
1170 also matches the January high so it would appear fairly significant
April 08, 2017, 07:44:33 AM
can some one tell me what was the highest price at which BTC was there in this year? Is there any chances to break that record? As far as i remember it was around 1300$ a BTC in first week of march. 
The price jumped quickly to $1350 then came back down the day of the ETF.
The real ATH was on 3-3-2017 if you ask me.
April 08, 2017, 07:34:12 AM
can some one tell me what was the highest price at which BTC was there in this year? Is there any chances to break that record? As far as i remember it was around 1300$ a BTC in first week of march.
The price jumped quickly to $1350 then came back down the day of the ETF.
April 08, 2017, 07:13:51 AM
can some one tell me what was the highest price at which BTC was there in this year? Is there any chances to break that record? As far as i remember it was around 1300$ a BTC in first week of march.
April 08, 2017, 07:13:19 AM
So... back at $200 a 1000 btc order was a wall because it was worth $200k, but now, when it's worth $1.2m it's not a wall?
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
It doesn't matter how much does it worth today. What does matter is what % of existing bitcoins does it represent.
Definitely makes sense!
The higher the price goes, the more distributed the coins will be, the less chance that someone is willing to assume the counter party risk of holding thousands of coins on an exchange. Thus, if we're lucky, 5 years from now, 100 btc will be a wall, not 10000 btc :/
April 08, 2017, 06:57:15 AM
So... back at $200 a 1000 btc order was a wall because it was worth $200k, but now, when it's worth $1.2m it's not a wall?
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
It doesn't matter how much does it worth today. What does matter is what % of existing bitcoins does it represent.
Definitely makes sense!
Not for as long BTC can be bought with infinite USD.
April 08, 2017, 06:43:39 AM
So... back at $200 a 1000 btc order was a wall because it was worth $200k, but now, when it's worth $1.2m it's not a wall?
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
It doesn't matter how much does it worth today. What does matter is what % of existing bitcoins does it represent.
Definitely makes sense!
April 08, 2017, 06:11:17 AM
So... back at $200 a 1000 btc order was a wall because it was worth $200k, but now, when it's worth $1.2m it's not a wall?
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
Going by this logic, 5 years ago, a 100 btc order was a wall, because it was worth $1000?
Makes sense...
April 08, 2017, 05:56:01 AM
The wall at $1200 is about 1000 BTC.
Huge walls like that tend to be manipulation in the direction of the wall.
Huge walls like that tend to be manipulation in the direction of the wall.
I think 1000 BTC wall could have been considered a wall three years ago. Today a thousand BTC wall is more like a wooden fence.
April 08, 2017, 05:16:54 AM
It would cost them if some bigger whale came and ate their order whole, before taking the price considerably higher. But I suspect a lot of times these market makers have some sort of inside information from the exchanges wrt potential heavy buyers.
very interesting about the walls. i am no expert but i usually see these types of walls be placed deep (under other orders). so if this is true that these walls are placed as "a mental barrier" then that explains it, you can easily use a bot to watch the market and cancel the order and place it deeper if you see some movement.(?)
Of course, that's what they do. It's obvious especially if you observe altcoin markets, where price moves faster. My guess is that the entity holding the wall is quite confident that there is nobody able to swallow him in one bite so he keeps the wall close to the spot price.
The "wall" when placed, is meant to be eaten by design, eventually. At a certain point it just evaporates.
I think its usually the exchanges themselves, knowing some big money just came in. Seen it happen way too much.
Does the "mental barrier" actually affect anyone? lol
April 08, 2017, 04:49:36 AM
How many bitcoins must one currently hold, as a citizen of a first world country, to be exited about the bitcoin price (movements)?
Of course, there is no "must" when it comes to this kind of a thing, and even in the "first world" there is a considerable amount of variance in income and in how much someone might have available to invest.
if you are feeling fairly bullish about bitcoin, then holding 10% of your quasi-liquid investments in bitcoin could be a good thing.. and maybe for some people that could be up to 10 bitcoins, but they might not get rich in the shorter term with 10 bitcoins, so maybe 100 would be a better target.. even though 100 might be too difficult to achieve for some people, especially if they are just entering into BTC and 10 might be more realistic.
So 100 bitcoins it is. How many dollars must one currently hold, as a citizen of a first world country, to be considered rich?
I don't think 100BTC would class you as rich since, at todays prices, that would be ~$120,000
April 08, 2017, 04:36:19 AM
How many bitcoins must one currently hold, as a citizen of a first world country, to be exited about the bitcoin price (movements)?
Of course, there is no "must" when it comes to this kind of a thing, and even in the "first world" there is a considerable amount of variance in income and in how much someone might have available to invest.
if you are feeling fairly bullish about bitcoin, then holding 10% of your quasi-liquid investments in bitcoin could be a good thing.. and maybe for some people that could be up to 10 bitcoins, but they might not get rich in the shorter term with 10 bitcoins, so maybe 100 would be a better target.. even though 100 might be too difficult to achieve for some people, especially if they are just entering into BTC and 10 might be more realistic.
So 100 bitcoins it is. How many dollars must one currently hold, as a citizen of a first world country, to be considered rich?
April 08, 2017, 04:22:33 AM
Excuse me for interrupting with a wall observation but the 416 coin ask wall at Stamp caught my attention. Seems someone really wants to keep the price under $1200.
Eaten or pulled?
It is getting eaten now. Very exciting to watch.Eaten or pulled?
The slightly lower one was pulled after being partially eaten.
The slightly higher one was partially eaten and the moved up a notch.
Entertaining indeed.
Pulled while typing.
Edit: Seems they were just intimidation walls and like most bullies, they were cowards.
Push back and they go running home crying to mommy.
Edit: Lawl. Back again, this time a pair of 300 coin walls.
Walls just dancing in and out.
Yep...
There was another wall at $1196.77 - started out with 527 coins, and then 92 coins were eaten in a matter of minutes, which left 323 coins. Those coins were then pulled... and moved to $1,298.08.
I think that they are going to get eaten, within the coming hours... but really it is not easy to know how many coins each of these whales have and whether they are going to be able to hold off an upward breach of $1,200 - within the next several hours... I'm kind of thinking that the odds for breaking upwards is pretty decent....
Anyone differ?
Edit: now it looks like the 323 guy might have stacked his coins behind another 100 coins at $1198.13.
It is like he would prefer the coins of other people to get eaten first... hahahahahaha
It would be nice to see the totality of the 423 coins to be eaten all at once, so that the 323 guy does not have another chance to pull his coins... but that may just be wishful thinking on my behalf.
I'm quoting myself.. hahahahaha
O.k. at this time, there are about 1,000 coins on Stamp to get us to break $1,200 - Are we breaking $1,200 in the next 24 hours? or at least some time over the weekend? or by monday? I have some difficulty believing that prices would be able to bounce around in a $1,170 to $1,195 arena until monday..... so something has got to happen, before monday, no? One way or another.. which way? Up or down, right? Not sideways, right? Something tells me that if there are several tries, and not able to break upwards, then
we be going dee udder direction.Well, that is good to know.
I appreciate the good news.
April 08, 2017, 03:57:20 AM
It would cost them if some bigger whale came and ate their order whole, before taking the price considerably higher. But I suspect a lot of times these market makers have some sort of inside information from the exchanges wrt potential heavy buyers.
very interesting about the walls. i am no expert but i usually see these types of walls be placed deep (under other orders). so if this is true that these walls are placed as "a mental barrier" then that explains it, you can easily use a bot to watch the market and cancel the order and place it deeper if you see some movement.(?)
Of course, that's what they do. It's obvious especially if you observe altcoin markets, where price moves faster. My guess is that the entity holding the wall is quite confident that there is nobody able to swallow him in one bite so he keeps the wall close to the spot price.
April 08, 2017, 03:51:13 AM
It would cost them if some bigger whale came and ate their order whole, before taking the price considerably higher. But I suspect a lot of times these market makers have some sort of inside information from the exchanges wrt potential heavy buyers.
very interesting about the walls. i am no expert but i usually see these types of walls be placed deep (under other orders). so if this is true that these walls are placed as "a mental barrier" then that explains it, you can easily use a bot to watch the market and cancel the order and place it deeper if you see some movement.(?)
April 08, 2017, 03:36:29 AM
It would cost them if some bigger whale came and ate their order whole, before taking the price considerably higher. But I suspect a lot of times these market makers have some sort of inside information from the exchanges wrt potential heavy buyers.
If you think about it, if someone really wants to sell, they would scale their orders to make it almost impossible to know how much they've parted with. Having such a wall only makes sense when there's a lot of liquidity coming at the market and they want out fast, taking advantage of the market's appetite. Most of the times, heavy players need to get out of their positions when the market offers them the chance, not when they would like to.
If you think about it, if someone really wants to sell, they would scale their orders to make it almost impossible to know how much they've parted with. Having such a wall only makes sense when there's a lot of liquidity coming at the market and they want out fast, taking advantage of the market's appetite. Most of the times, heavy players need to get out of their positions when the market offers them the chance, not when they would like to.
April 08, 2017, 03:29:05 AM
The wall at $1200 is about 1000 BTC.
Huge walls like that tend to be manipulation in the direction of the wall.
Huge walls like that tend to be manipulation in the direction of the wall.
So they want to lower the price. Must be the altcoin whales.
They want to place a mental barrier for people looking to buy and maybe scare some others into selling.
Walls are never resistance points, they're just fun to look at.
Thanks, so its more like a artificial barrier.
But such thing would cost those whales a lot of money?
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