Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 26449. (Read 26609692 times)

Explanation

I am all fine and dandy with that analysis... yet it seems that the time-line and stability of this arrangement remains unclear.   This arrangement could continue for days or maybe even up to 4-6 months.  .. let's say 4-6 months of about $2million per day in BTC being bought off line  (3,600 x $600) That is only about $60million per month, and it remains unclear for how many months that will be a sufficient supply for accumulators.

I have been dwelling on this analysis from Windic and of course it makes sense.

If the miners go to market with the current volume, then they won't get the price they might from off exchange sales.

But with these sellers and the corresponding buyers both off-market, then volume dries up.  It also means the price is far more easy to manipulate by dumping a few every time it looks like creeping up and buying them back once the rise has been stopped.

This will only change if off-market demand exceeds supply.

But at first miners will just have more bidders and may just auction at higher rates, but still off-market.

The only way this situation changes will be if the large off-market buyers see the premium asked by miners as excessive and break ranks.

And these large buyers are not so stupid.   So right now we stay in this equilibrium - large miners will not change it, they get guaranteed sales at market or slightly over and predictable, optimised cashflow.

Miners not selling off-market are supplying about what the market wants right now, hence (relative) stability.

So...  what needs to change?  Probably the point where it becomes inevitable that it WILL change.

At this point miners may hold and ask a premium - large buyers see the cosy arrangement is not going to last and then they start to break ranks and just land grab on-market.

So breakouts are being stamped on - it is inevitable it MUST be what is happening. 

Once it looks like this amazing accumulation 'party' is over, the shit will hit the fan.   

The longer it lasts the faster it will turn.  And events, of course 'events' can be the calalyst for someone to blink.

And so it will begin - we will have our choo choos again.

If it wasn't so boring, the last 9 days on the daily chart would be hilarious: 9 doji (or near doji)  in a row.

That should be a signal of market indecision.  If we are being held at this range so someone big can stock up on coins, why is it taking so long?

Explanation

YEP, Soy Chicken feet.  I bought 10 of them, and got two bonus ones... They are yummy, and better cold, IMHBO.  I thought that you were ignoring me, Shroomie?

Explanation

The last 2-3 times we got near 600$ 1-2000BTC have been pulled and put to ~620$ temporary .

Edit: Next 48h will be interesting!



Lololololololol

Am I right that the Bitstamp ask walls have not been tested?  It is tough to believe that there are 3000 coins to 600.


Edit: looks like we tested yesterday.

Explanation

In the meantime we go lower and lower and the ask side is getting bigger and bigger.

the other side of the sword...BTC as money means that you want to spend BTC more as more places take it.....hoarding is easy
when NO ONE takes the coin.and say last jan 2013 it was at $12 usd a coin

now with coin around $600 usd and all them goodies.....

(Ack! its a trap..the only solution is to retreat into bitcointalk mode no life at all posting on here ...embrace the boredom.......heaven help you
if Betty Bang Bang  with the bouncing double D's finds out about your nerdy wealth ...you will lose all your nerdy wealth Ack!)

(scared myself)

Searing

https://bitcointalksearch.org/topic/m.8289534

Wow! It is my first time seeing Legendary status. How to get it?

where do you get these from adam?

Explanation

Wall games at Huobi. Saw ~1200 in bids pulled near 3600.... some were replaced, only half. And now a 250+ ask wall near the spread. In recent days, that would have been immediately bought. Not today....

Explanation

So by the Chinese numerology / homophone reasoning, for us the numeral 1 should make us think of victory, 6 some happy fun time, and possibly 8 is positive if you're hungry.

Barf