Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25851.

klee

legendary

Activity: 1498

Merit: 1000

Quote from: dEBRUYNE on September 13, 2014, 04:15:54 AM

Quote from: klee on September 13, 2014, 03:52:01 AM

Quote from: phoenix1 on September 13, 2014, 03:42:31 AM

Quote from: Davyd05 on September 13, 2014, 03:24:06 AM

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage.
Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down.
Now at 5.5k, there are not enough shorts to squeeze IMO.

What does this mean? I am not very familiar with the technical terms...

Normally when you market buy 3-4k, you get a slippage of a few %. For example if the price is 460, but there is only 4k coins to 500, you get a slippage of around 8%. When there is a wall at 470, you only get a slippage of a few %. I hope this is clear for you now. Maybe some traders could elaborate this a bit more.

Yes thank you! I understand now

dEBRUYNE

legendary

Activity: 2268

Merit: 1141

Quote from: klee on September 13, 2014, 03:52:01 AM

Quote from: phoenix1 on September 13, 2014, 03:42:31 AM

Quote from: Davyd05 on September 13, 2014, 03:24:06 AM

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage.
Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down.
Now at 5.5k, there are not enough shorts to squeeze IMO.

What does this mean? I am not very familiar with the technical terms...

Normally when you market buy 3-4k, you get a slippage of a few %. For example if the price is 460, but there is only 4k coins to 500, you get a slippage of around 8%. When there is a wall at 470, you only get a slippage of a few %. I hope this is clear for you now. Maybe some traders could elaborate this a bit more.

klee

legendary

Activity: 1498

Merit: 1000

Quote from: phoenix1 on September 13, 2014, 04:08:57 AM

Quote from: klee on September 13, 2014, 03:52:01 AM

Quote from: phoenix1 on September 13, 2014, 03:42:31 AM

Quote from: Davyd05 on September 13, 2014, 03:24:06 AM

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage.
Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down.
Now at 5.5k, there are not enough shorts to squeeze IMO.

What does this mean? I am not very familiar with the technical terms...

That big wall on BFX allowed the majority of the 5k shorts to be closed without moving the price significantly.
Low slippage = executing an order without significantly moving the market - if the wall had not been there, executing a market buy to close those shorts would have wiped out the order book and pushed the price way higher = high slippage
Hence why they were potentially a sitting duck for a short squeeze. Now that they are gone ...

On the other hand it is bullish that they closed them, right?

Even if we won't have such a sudden spike in price.

phoenix1

hero member

Activity: 798

Merit: 1000

Quote from: klee on September 13, 2014, 03:52:01 AM

Quote from: phoenix1 on September 13, 2014, 03:42:31 AM

Quote from: Davyd05 on September 13, 2014, 03:24:06 AM

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage.
Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down.
Now at 5.5k, there are not enough shorts to squeeze IMO.

What does this mean? I am not very familiar with the technical terms...

That big wall on BFX allowed the majority of the 5k shorts to be closed without moving the price significantly.
Low slippage = executing an order without significantly moving the market - if the wall had not been there, executing a market buy to close those shorts would have wiped out the order book and pushed the price way higher = high slippage
Hence why they were potentially a sitting duck for a short squeeze. Now that they are gone ...

klee

legendary

Activity: 1498

Merit: 1000

When S&P will pop BTC will rally.

http://www.advisorperspectives.com/dshort/guest/Lance-Roberts-140912-Things-to-Ponder.php

Also, it is good to have all those bears around - buy signal!

When there is no falllllllllling around I know it will be time to sell Wink

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

klee

legendary

Activity: 1498

Merit: 1000

Quote from: phoenix1 on September 13, 2014, 03:42:31 AM

Quote from: Davyd05 on September 13, 2014, 03:24:06 AM

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage.
Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down.
Now at 5.5k, there are not enough shorts to squeeze IMO.

What does this mean? I am not very familiar with the technical terms...

phoenix1

hero member

Activity: 798

Merit: 1000

Quote from: Davyd05 on September 13, 2014, 03:24:06 AM

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

^^ This. Looks like that big buy was no whale accumulator, but a/many shorter(s) closing their positions for low slippage.
Potentailly bearish in reality as 11k was waaay too high for the market to make any significant move down.
Now at 5.5k, there are not enough shorts to squeeze IMO.

EDIT : My numbers are wrong 9.2k shorts dropped to 5.8k. Misread chart

Davyd05

hero member

Activity: 574

Merit: 500

http://www.bfxdata.com/swaphistory/totals.php

seems like a huge short or amount of shorts closed

kurb3l

newbie

Activity: 25

Merit: 0

Quote from: Teppino on September 13, 2014, 02:58:38 AM

https://blockchain.info/en/charts/hash-rate

Hashrate -100k ghs?

Another Glitch?

Seems so.
bitcoinwisdom says

Hash Rate: 217,992,542 GH/s

keewee

legendary

Activity: 1025

Merit: 1000

Quote from: Teppino on September 13, 2014, 02:58:38 AM

https://blockchain.info/en/charts/hash-rate

Hashrate -100k ghs?

Another Glitch?

I'd say so: http://bitcoin.sipa.be/

ChartBuddy

legendary

Activity: 2380

Merit: 1823

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Explanation

Teppino

full member

Activity: 139

Merit: 100

bitcoin hates walls

https://blockchain.info/en/charts/hash-rate

Hashrate -100k ghs?

Another Glitch?

klee

legendary

Activity: 1498

Merit: 1000

Quote from: iram3130 on September 13, 2014, 02:55:07 AM

Quote from: Malin Keshar on September 13, 2014, 02:52:57 AM

Quote from: Sandia on September 13, 2014, 02:49:21 AM

Quote from: Malin Keshar on September 13, 2014, 02:44:51 AM

Where is the 3k Bitcoin wall at Bitfinex?

I just go out a little and when I'm back that wall that was supposed to take days to be broken is gone Huh

Eaten.

Unfortunately, Stamp is wandering around aimlessly and hasn't tried attacking their wall.
2100 coins to 500 on Bfx.
5400 coins to 500 on Stamp.

If someone ate the 3100 wall at friday night, I wouldn't be surprised to see 500 before the next week-start

We can say that, but sometime eating wall by whales doesn't means they will try to up the market too.
May be they are on accumulating phase where they are buying cheap coin silently.

This, but is it becoming apparent now so the speculators will change their game accordingly (at least the serious ones).

iram3130

legendary

Activity: 1512

Merit: 1010

ITSMYNE 🚀 Talk NFTs, Trade NFTs 🚀

Quote from: Malin Keshar on September 13, 2014, 02:52:57 AM

Quote from: Sandia on September 13, 2014, 02:49:21 AM

Quote from: Malin Keshar on September 13, 2014, 02:44:51 AM

Where is the 3k Bitcoin wall at Bitfinex?

I just go out a little and when I'm back that wall that was supposed to take days to be broken is gone Huh

Eaten.

Unfortunately, Stamp is wandering around aimlessly and hasn't tried attacking their wall.
2100 coins to 500 on Bfx.
5400 coins to 500 on Stamp.

If someone ate the 3100 wall at friday night, I wouldn't be surprised to see 500 before the next week-start

We can say that, but sometime eating wall by whales doesn't means they will try to up the market too.
May be they are on accumulating phase where they are buying cheap coin silently.

klee

legendary

Activity: 1498

Merit: 1000

The risk NOT buying at these prices is far greater than trying selling now trying to break 450. Not to mention the possible gains.

I predict 600$ next week, mark my words - the game has changed. There are serious guys buying again eating all the coins the desperate short traders throw to them or putting close scare walls.

They are greed and soon they will realise the change in dynamics - I expect borrowing USD for long positions to increase this week.

Malin Keshar

hero member

Activity: 616

Merit: 500

Quote from: Sandia on September 13, 2014, 02:49:21 AM

Quote from: Malin Keshar on September 13, 2014, 02:44:51 AM

Where is the 3k Bitcoin wall at Bitfinex?

I just go out a little and when I'm back that wall that was supposed to take days to be broken is gone Huh

Eaten.

Unfortunately, Stamp is wandering around aimlessly and hasn't tried attacking their wall.
2100 coins to 500 on Bfx.
5400 coins to 500 on Stamp.

If someone ate the 3100 wall at friday night, I wouldn't be surprised to see 500 before the next week-start

Sandia

full member

Activity: 182

Merit: 100

Quote from: Malin Keshar on September 13, 2014, 02:44:51 AM

Where is the 3k Bitcoin wall at Bitfinex?

I just go out a little and when I'm back that wall that was supposed to take days to be broken is gone Huh

Eaten.

Unfortunately, Stamp is wandering around aimlessly and hasn't tried attacking their wall.
2100 coins to 500 on Bfx.
5400 coins to 500 on Stamp.

Zicore47

sr. member

Activity: 471

Merit: 262

Quote from: Malin Keshar on September 13, 2014, 02:44:51 AM

Where is the 3k Bitcoin wall at Bitfinex?

I just go out a little and when I'm back that wall that was supposed to take days to be broken is gone Huh

It got eaten apparently.

BTCfan1

full member

Activity: 196

Merit: 100

This year's holiday shopping blitz is my far-end target for a marked rise in price

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 25851. (Read 26609460 times)