Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32396. (Read 26470386 times)
August 22, 2013, 01:02:47 AM
August 22, 2013, 12:44:54 AM
i don't feel right unless i get Gox'd at least once a week.
August 22, 2013, 12:02:39 AM
August 21, 2013, 11:46:01 PM
It looks to me like someone's accumulating everything within a $5 range below each higher high since the 19th.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
It seems that way, I suspect that the owner of the $125 wall is getting people to bid in front of him, then when there's a lot of asks he's buying them all up. I've noticed that those big buys always seem to go up to his wall but never buy into it, which also makes me think it's the same person. I'd expect that if others start buying into his wall or getting too close to it that he'll take it away and the price will go above $125
in any case, the longer we stay below it, the more likely this wall will just vanish.
Does it even matter? Sellers on Gox are either arbing or med/long term bulls. The real money has got to be entering and leaving through the other exchanges. You'd be crazy to buy on Gox's 10-20% premium, and if you actually WANT your $ you've got to sell somewhere else.
Keep your eye on bitstamp, campbx (reflects US sentiment) and ESPECIALLY btcchina. What I see is quite a rally on strong volume this past week (and similar past few weeks). Also looks to me like % volume shifts heavily to those exchanges during rallies. When nothing is happening, Gox takes a higher % volume (but lower overall volume) -- this is just trader/bot churn. But with the action hits, its on the other exchanges as you can see by the lower % volume on Gox.
Look to the other exchanges for the action that is defining this market.
Gox matters, its still by far the most volume, altho the first mover advantage is wearing off slowly. this is good for everyone else. and price is rising everywhere else too, maybe its not GOX price but everyone is clearly on the same trend, as it should be, this is bitcoin.
August 21, 2013, 11:43:07 PM
You'd be crazy to buy on Gox's 10-20% premium
The only reason to buy on Gox would be if the volume of BTC you want to buy simply isn't available on any other exchange. August 21, 2013, 11:33:30 PM
It looks to me like someone's accumulating everything within a $5 range below each higher high since the 19th.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
It seems that way, I suspect that the owner of the $125 wall is getting people to bid in front of him, then when there's a lot of asks he's buying them all up. I've noticed that those big buys always seem to go up to his wall but never buy into it, which also makes me think it's the same person. I'd expect that if others start buying into his wall or getting too close to it that he'll take it away and the price will go above $125
in any case, the longer we stay below it, the more likely this wall will just vanish.
Does it even matter? Sellers on Gox are either arbing or med/long term bulls. The real money has got to be entering and leaving through the other exchanges. You'd be crazy to buy on Gox's 10-20% premium, and if you actually WANT your $ you've got to sell somewhere else.
Keep your eye on bitstamp, campbx (reflects US sentiment) and ESPECIALLY btcchina. What I see is quite a rally on strong volume this past week (and similar past few weeks). Also looks to me like % volume shifts heavily to those exchanges during rallies. When nothing is happening, Gox takes a higher % volume (but lower overall volume) -- this is just trader/bot churn. But with the action hits, its on the other exchanges as you can see by the lower % volume on Gox.
Look to the other exchanges for the action that is defining this market.
August 21, 2013, 11:29:43 PM
funny sorry,
Some guy PM's me asking for some trading advice, so i tell him buy some bitcoin. the next day i get a PM from him telling me he took a long on bitfenix, so i ask him did you go "all in", he says ya and tells me the figures and says "i don't know what i'm doing I hope it goes good". I'm like
so i tell him, don't panic wait and start unwinding some of that position as price rises. so ya price has gone up, i haven't heard from him since, i assume he still holding his long... phhhh nubs.
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lol
Some guy PM's me asking for some trading advice, so i tell him buy some bitcoin. the next day i get a PM from him telling me he took a long on bitfenix, so i ask him did you go "all in", he says ya and tells me the figures and says "i don't know what i'm doing I hope it goes good". I'm like
so i tell him, don't panic wait and start unwinding some of that position as price rises. so ya price has gone up, i haven't heard from him since, i assume he still holding his long... phhhh nubs.Subscribe to my new service! BitMovements
PM me
lol
August 21, 2013, 11:05:58 PM
It looks to me like someone's accumulating everything within a $5 range below each higher high since the 19th.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
It seems that way, I suspect that the owner of the $125 wall is getting people to bid in front of him, then when there's a lot of asks he's buying them all up. I've noticed that those big buys always seem to go up to his wall but never buy into it, which also makes me think it's the same person. I'd expect that if others start buying into his wall or getting too close to it that he'll take it away and the price will go above $125
in any case, the longer we stay below it, the more likely this wall will just vanish.
August 21, 2013, 11:02:45 PM
August 21, 2013, 10:02:36 PM
August 21, 2013, 09:46:29 PM
It looks to me like someone's accumulating everything within a $5 range below each higher high since the 19th.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
It seems that way, I suspect that the owner of the $125 wall is getting people to bid in front of him, then when there's a lot of asks he's buying them all up. I've noticed that those big buys always seem to go up to his wall but never buy into it, which also makes me think it's the same person. I'd expect that if others start buying into his wall or getting too close to it that he'll take it away and the price will go above $125
August 21, 2013, 09:02:46 PM
August 21, 2013, 08:45:51 PM
I wouldnt be surprised to see a 5k buy.
If my math is correct (it is not easy to do it with regard to 3 exchanges while using no software for it, just eyeballing) such a buy should not happen before price dives to 106 - 105.
But a guy who has cash for a single 5k buy surely has better math than me.
Disclaimer: I am not telling 125 is the top, neither am telling the price will dive to 106 -105.
Well, I mean, we've had the price recede from ~125 a couple of times now, and every time some large buy has taken everything leading up to the once 6k 125 wall. Nothing says it cant happen again. Now, 5k exactly? IDK.
Regardless, the walls have been pulled and unsurprisingly belonged to a single party.
It looks to me like someone's accumulating everything within a $5 range below each higher high since the 19th.
If we see $118/$119 I suspect it will shoot back up into the $123-$125 range again.
August 21, 2013, 08:44:25 PM
Well, I mean, we've had the price recede from ~125 a couple of times now, and every time some large buy has taken everything leading up to the once 6k 125 wall. Nothing says it cant happen again. Now, 5k exactly? IDK.
Let's wait and see
August 21, 2013, 08:38:53 PM
I wouldnt be surprised to see a 5k buy.
If my math is correct (it is not easy to do it with regard to 3 exchanges while using no software for it, just eyeballing) such a buy should not happen before price dives to 106 - 105.
But a guy who has cash for a single 5k buy surely has better math than me.
Disclaimer: I am not telling 125 is the top, neither am telling the price will dive to 106 -105.
Well, I mean, we've had the price recede from ~125 a couple of times now, and every time some large buy has taken everything leading up to the once 6k 125 wall. Nothing says it cant happen again. Now, 5k exactly? IDK.
Regardless, the walls have been pulled and unsurprisingly belonged to a single party.
August 21, 2013, 08:35:52 PM
I wouldnt be surprised to see a 5k buy.
If my math is correct (it is not easy to do it with regard to 3 exchanges while using no software for it, just eyeballing) such a buy should not happen before price dives to 106 - 105.
But a guy who has cash for a single 5k buy surely has better math than me.
Disclaimer: I am not telling 125 is the top, neither am telling the price will dive to 106 -105.
August 21, 2013, 08:24:11 PM
Bear tantrum lol.
There is definitely a lot of downward pressure compared to the norm, but also a lot more upward pressure.
I wouldnt be surprised to see a 5k buy.
There is definitely a lot of downward pressure compared to the norm, but also a lot more upward pressure.
I wouldnt be surprised to see a 5k buy.
Me neither - I think this is a last ditch attempt to buy a load more cheap coin before we break through $125.
Just a hunch.
August 21, 2013, 08:22:39 PM
Bear tantrum lol.
There is definitely a lot of downward pressure compared to the norm, but also a lot more upward pressure.
I wouldnt be surprised to see a 5k buy.
There is definitely a lot of downward pressure compared to the norm, but also a lot more upward pressure.
I wouldnt be surprised to see a 5k buy.
August 21, 2013, 08:22:30 PM
Mmmmm, I can taste that downward momentum.
I suspect the downward momentum is forced and only caused by someone who wants his coins cheaper.
August 21, 2013, 08:21:21 PM
If 125 was the top, then by the 27th price should be between 115 and 120 IMO.
When I went long at 66, The probability was:
1% - will deepen the 50 low
99% - will go to 122 - 123
Then, if 122 - 123 is reached
- 35% bearish
- 65% bullish reaching levels 138 or 152 or at least 300
At that time Gox was the king.
Now things are more complex and one needs to read charts (reading more than charts is impossible - there are no quality tools for traders in the crypto realm) from 3 exchanges at the same time to make sense of what will happen next.
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