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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 24746. (Read 26712869 times)

legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Yeah, I guess he's just trolling as 99% of the regulars here... Got to admit, he does it with style though!  Grin

Edit:
HDBuck has the 133+3$+ sig though from us all. Wink

No trolling, just style here Smiley


That's a blasphemy dood, after all you're in the...

Code:
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\ \        / /\   | |    | |           / __ \|  ____|     |__   __|  __ \ / __ \| |    | |     
 \ \  /\  / /  \  | |    | |          | |  | | |__           | |  | |__) | |  | | |    | |     
  \ \/  \/ / /\ \ | |    | |          | |  | |  __|          | |  |  _  /| |  | | |    | |     
   \  /\  / ____ \| |____| |____      | |__| | |             | |  | | \ \| |__| | |____| |____
    \/  \/_/    \_\______|______|      \____/|_|             |_|  |_|  \_\\____/|______|______|
Grin
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
Yeah, I guess he's just trolling as 99% of the regulars here... Got to admit, he does it with style though!  Grin

Edit:
HDBuck has the 133+3$+ sig though from us all. Wink

No trolling, just style here Smiley

legendary
Activity: 2772
Merit: 1127
It is me or whatever happens in Litecoin market happens in BTC market?

That means we still have more down moves, because Litecoin is at 3.55 right now
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
Is this a joke? Sometimes I can't tell anymore.

I am not paid for those adverts i do it for free Smiley
legendary
Activity: 1484
Merit: 1002
Strange, yet attractive.
Yeah, I guess he's just trolling as 99% of the regulars here... Got to admit, he does it with style though!  Grin

Edit:
HDBuck has the 133+3$+ sig though from us all. Wink
N12
donator
Activity: 1610
Merit: 1010
Is this a joke? Sometimes I can't tell anymore.

zby
legendary
Activity: 1594
Merit: 1001
What do you guys think about the lack of asks in the books? The ask side is totally flat on both Stamp and Finex - no walls, no even small ramps - only the Chinese exchanges seem to have some kind of balanced book.
hero member
Activity: 588
Merit: 500
IMO the most probable thing is just a larger sideways, even if it fluctuates a lot from our microscopic view. It is hard to outdo this 5th October event. At the same time, we obviously have lots of overhead resistance, and it would take a long time to get through.

I'd discard all volume charts of 0% exchanges. As for why things look slightly differently on Bitfinex, that's obvious: 30k guy sold on Bitstamp, not Bitfinex. Bitstamp is where all eyes have been on those days, and thus IMO it's the one to look at (well, aside from the argument that Bitstamp is the only one free of potentially distorting leveraged volume).

Well, I do have to admit that I don't believe that someone who sells 30k on a single exchange at a single time at the termination of at least a local trend is very clever. In fact, the nature of this person appears to be so impulsive

He may have needed the money for something, urgently.

Or he may have become convinced that price would never get substantially higher than 300$, and could quickly get much lower. In that case, selling as quickly as possible was not a bad strategy.  Moving part of the coins to another exchange would have taken time, and he may have felt that it was not worth running that risk.
Someone good at business does not get in a situation where he has to liquidate a large holding of an illiquid asset within <24h (sending the money FROM the exchange will take longer in itself anyway). In the second case, obviously his fears turned out unfounded. My point is just that yes, it's quite probable that this guy was clueless. The only real reason to sell in such a manner is if one had inside knowledge of an irreversible technical failure of Bitcoin, and if that was the case, good luck competing with all the devs.

I prefer the Bitfinex data overall:
- China should be considered 100% fake
- Bitstamp have been tainted by that very unrepresentative 30k sell-wall event (I would say it's 50-50 if that's a good or a bad thing to include and I place my bid on that it's not)
- Bitfinex represents something like a "real market" as close as any Bitcoin exchange might get nowadays (I consider the active leverage trading as a positive thing in this regard)
So, I support the idea that nobody really know what might happen next. I guess this where somebody should call the "critical" time, yet nobody does that anymore (strange).
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
yesterday i was a bullbear... today i am full blown bear. just sold 100 coins, don't care if we rebound i could use the cash.

Really?

Nice, you must have got in very early.

Desperate for cash - spends his time on a forum.  Roll Eyes

Didn't say i was desperate for cash, I said i could use the cash(more so than the BTC) at this point in time. someone with 100btc to sell is not really desperate for cash are they? ever seen me with a paid signature campaign, taking out BTC loans or begging for dust..... nope because i am not desperate.

I do enjoy reading some BTC antics during my day to day life and where better to get the drama than bitcoingossip forum Wink

edit: yes i got in early enough and am nowhere near a loss and still hodl more than i sodl.
hero member
Activity: 722
Merit: 500
yesterday i was a bullbear... today i am full blown bear. just sold 100 coins, don't care if we rebound i could use the cash.

Really?

Nice, you must have got in very early.

Desperate for cash - spends his time on a forum.  Roll Eyes
legendary
Activity: 3122
Merit: 1538
yes
Looks like Litecoin is heading for some type of resolution by half November.

legendary
Activity: 3556
Merit: 9709
#1 VIP Crypto Casino
yesterday i was a bullbear... today i am full blown bear. just sold 100 coins, don't care if we rebound i could use the cash.

Really?

Nice, you must have got in very early.
legendary
Activity: 1036
Merit: 1000
Nighty Night Don't Let The Trolls Bite Nom Nom Nom
yesterday i was a bullbear... today i am full blown bear. just sold 100 coins, don't care if we rebound i could use the cash.
legendary
Activity: 1232
Merit: 1011
Also, I've actually perceived the sentiment to be the opposite of yours. I think there's a large number of people who believe Bitcoin's done for.

yes, but we need old guard/long time hodlers for true despair.

legendary
Activity: 2380
Merit: 1823
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legendary
Activity: 896
Merit: 1000
And then suddenly, China flips its shit
N12
donator
Activity: 1610
Merit: 1010
IMO the most probable thing is just a larger sideways, even if it fluctuates a lot from our microscopic view. It is hard to outdo this 5th October event. At the same time, we obviously have lots of overhead resistance, and it would take a long time to get through.

I'd discard all volume charts of 0% exchanges. As for why things look slightly differently on Bitfinex, that's obvious: 30k guy sold on Bitstamp, not Bitfinex. Bitstamp is where all eyes have been on those days, and thus IMO it's the one to look at (well, aside from the argument that Bitstamp is the only one free of potentially distorting leveraged volume).

Well, I do have to admit that I don't believe that someone who sells 30k on a single exchange at a single time at the termination of at least a local trend is very clever. In fact, the nature of this person appears to be so impulsive

He may have needed the money for something, urgently.

Or he may have become convinced that price would never get substantially higher than 300$, and could quickly get much lower. In that case, selling as quickly as possible was not a bad strategy.  Moving part of the coins to another exchange would have taken time, and he may have felt that it was not worth running that risk.
Someone good at business does not get in a situation where he has to liquidate a large holding of an illiquid asset within <24h (sending the money FROM the exchange will take longer in itself anyway). In the second case, obviously his fears turned out unfounded. My point is just that yes, it's quite probable that this guy was clueless. The only real reason to sell in such a manner is if one had inside knowledge of an irreversible technical failure of Bitcoin, and if that was the case, good luck competing with all the devs.
hero member
Activity: 910
Merit: 1003
Well, I do have to admit that I don't believe that someone who sells 30k on a single exchange at a single time at the termination of at least a local trend is very clever. In fact, the nature of this person appears to be so impulsive

He may have needed the money for something, urgently.

Or he may have become convinced that price would never get substantially higher than 300$, and could quickly get much lower. In that case, selling as quickly as possible was not a bad strategy.  Moving part of the coins to another exchange would have taken time, and he may have felt that it was not worth running that risk.
legendary
Activity: 1470
Merit: 1007
What's this tell you?

https://i.imgur.com/DLluEww.png

Agreed with the basic observation: volume is declining on the latest downtrend so far.

That said, the overall picture is a bit more complex:

a) the volume view that supports the claim we've found a bottom is relatively well supported by the Bitstamp data, but less so on Bitfinex and Huobi.

b) While the current downtrend is on declining volume (bullish), the previous rally from the bottom fizzled out on lowering volume as well, which is bearish.

Here's the details...

Bitstamp: Clear case can be made the latest downtrend is on declining volume, but volume was also sharply declining when we left the low-300s

https://i.imgur.com/JetMZbY.png

Bitfinex: Less clear volume picture to me. Highest volume candle still a red one, and no clear trends in volume visible, but on the bullish side, by far the larger candles in the last month are green. Overall, relatively bullish volume picture I'd say.

https://i.imgur.com/qDAUNPA.png

Huobi: Probably the least bullish volume picture. Volume trends similar to Bitstamp, but volume on down days at least as big as on up days.

https://i.imgur.com/Nb5Uwkd.png
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