I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
hypothesis: newbs use market orders
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32613. (Read 26470645 times)
July 15, 2013, 09:28:45 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
hypothesis: newbs use market orders
July 15, 2013, 09:26:49 AM
It's not manipulators, it's people seeing the price going upward, so buying. Look at the wave count above. This was the natural/expected thing to happen. It has logic.
We're now at the beginning of wave 1, with four more to go.
We're now at the beginning of wave 1, with four more to go.
July 15, 2013, 09:23:34 AM
Well, this pump is starting to have an effect as smaller buys are coming in to push the price up.
Manipulation is obvious when you see it happen live, but let's face it on the hourly / daily chart traders will just see an important psychological resistance broken with high volume and get bullish.
(I assume that anyone with this kind of resources available has an agenda - if they were really just tossing fiat around without a plan, they would have gone broke a long time ago)
Manipulation is obvious when you see it happen live, but let's face it on the hourly / daily chart traders will just see an important psychological resistance broken with high volume and get bullish.
(I assume that anyone with this kind of resources available has an agenda - if they were really just tossing fiat around without a plan, they would have gone broke a long time ago)
July 15, 2013, 09:20:23 AM
Maybe just a little worried that not everything is in the image of 2011:
Honestly, 2011 is a vague guide, not a rule-book. There was a fundamental difference right at the start. In 2011 when the bubble began the base was just under $1, so increased over 30x to peak. But the fall was only to $10, still 10x base. So it had a long way to fall, and it did for 5 months.
In contrast, 2013 dropped straightaway to barely 3.5x the base of $13-$14. So a low was quickly tested. 2011 was the first bubble so a lot of people did not know what to expect. In 2013, everyone was looking at this prior event and obviously many people cashed out fast. If 2013 crashed only to $135 and bounced around that for a few months then the argument that the bottom had not been tested would be very sound. But this is not what happened.
not to mention in 2011 there was 2x more bitcoins produced than it is now, and way less people interested. I doubt we will be repeating 2011 post bubble, it will be more like 2012 one.
Like you know every one of them and know what they do
July 15, 2013, 09:16:36 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
Other exchanges are NOT following. Buyer Beware! Price is being inflated on Gox, this can only be temporary.
they will do sooner or later.
there was a bigger bidder last week and he hasnt bought in yet. (well not all in one time though)
July 15, 2013, 09:15:09 AM
Maybe just a little worried that not everything is in the image of 2011:
Honestly, 2011 is a vague guide, not a rule-book. There was a fundamental difference right at the start. In 2011 when the bubble began the base was just under $1, so increased over 30x to peak. But the fall was only to $10, still 10x base. So it had a long way to fall, and it did for 5 months.
In contrast, 2013 dropped straightaway to barely 3.5x the base of $13-$14. So a low was quickly tested. 2011 was the first bubble so a lot of people did not know what to expect. In 2013, everyone was looking at this prior event and obviously many people cashed out fast. If 2013 crashed only to $135 and bounced around that for a few months then the argument that the bottom had not been tested would be very sound. But this is not what happened.
not to mention in 2011 there was 2x more bitcoins produced than it is now, and way less people interested. I doubt we will be repeating 2011 post bubble, it will be more like 2012 one.
July 15, 2013, 09:13:37 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
Other exchanges are NOT following. Buyer Beware! Price is being inflated on Gox, this can only be temporary.
Looking at the bid/ask sum, it looks like more people are throwing fiat at BTC than there are BTC holders wanting fiat. More people buying than selling = price rise. Don't be surprised if we see $105-110 this week.
And don't kid yourself, Mt.Gox pretty much always end up setting the price of the other exchanges. Because their volume is much smaller the adjustment is slower. It's just a matter of time before they catch up.
http://blockchained.com/depth_mtgox_15d.png
July 15, 2013, 09:12:29 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
Other exchanges are NOT following. Buyer Beware! Price is being inflated on Gox, this can only be temporary.
they will do sooner or later.
Bitstamp shows 94. Btw what's up with bitstamp on bitcoincharts?
July 15, 2013, 08:55:30 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
Other exchanges are NOT following. Buyer Beware! Price is being inflated on Gox, this can only be temporary.
they will do sooner or later.
July 15, 2013, 08:52:26 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
Other exchanges are NOT following. Buyer Beware! Price is being inflated on Gox, this can only be temporary.
July 15, 2013, 08:51:40 AM
For anyone who didn't see this over the top, blaringly obvious outcome:
JimFred's count.
The 1h was way oversold for too long, and there was a hidden divergence set up, among other things. Yet there were many mixed signals.
JimFred's count.
The 1h was way oversold for too long, and there was a hidden divergence set up, among other things. Yet there were many mixed signals.
July 15, 2013, 08:47:36 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
Buy everything to $180, sell at that price at localbitcoins. Profit.
July 15, 2013, 08:42:00 AM
I'm not buying. The whale seems to be running low on ammo. Wait and see...
There was just another crazy market order with heavy slippage.
What are they doing?!
July 15, 2013, 08:36:13 AM
Probably someone loading the Chrome Browser Extension EMA bot and it auto bought his full account balance or something like this....
Also, most 'whales' probably know more about slippage than tiny tadpools like me.
Also, most 'whales' probably know more about slippage than tiny tadpools like me.
July 15, 2013, 08:33:21 AM
It looks like the big spike we had earlier today was a big buyer trying to push the price up with little success.
Its seems to me that is a whale trying to start a rally. Given the current market circumstances, there is no need to panic buy such amount of coins, why executing that market order with big slippage if you can just place your bids, or execute smallish orders while ask side builds up?
Of course there are other explanations. It could be a whale who just don't care about losing +$10k in slippage, because his pockets are so very deep. Or just a noob whale that doesn't know how this market works and is afraid to miss the train. Or he may be someone knowing that huge news will hit the world soon and there is no time to buy slowly. Or maybe he doesn't even know how to place bids on Gox, don't noobs always buy their first coins with market orders?
All the above seems unlikely to me. This market is so tiny that an individual with a relatively small amount of cash (few millions $) can become a market maker. I guess the vast majority of BTC whales never experienced the feeling of being a "whale" on grown up markets, so they like to play. The most likely objective would be to trigger some panic buying that would make $105 fall, which following TA would be a strong trend reversal indicator.
I'm not buying. The whale seems to be running low on ammo. Wait and see...
Its seems to me that is a whale trying to start a rally. Given the current market circumstances, there is no need to panic buy such amount of coins, why executing that market order with big slippage if you can just place your bids, or execute smallish orders while ask side builds up?
Of course there are other explanations. It could be a whale who just don't care about losing +$10k in slippage, because his pockets are so very deep. Or just a noob whale that doesn't know how this market works and is afraid to miss the train. Or he may be someone knowing that huge news will hit the world soon and there is no time to buy slowly. Or maybe he doesn't even know how to place bids on Gox, don't noobs always buy their first coins with market orders?
All the above seems unlikely to me. This market is so tiny that an individual with a relatively small amount of cash (few millions $) can become a market maker. I guess the vast majority of BTC whales never experienced the feeling of being a "whale" on grown up markets, so they like to play. The most likely objective would be to trigger some panic buying that would make $105 fall, which following TA would be a strong trend reversal indicator.
I'm not buying. The whale seems to be running low on ammo. Wait and see...
or maybe he is waiting for sellers to wear off...
July 15, 2013, 08:24:37 AM
It looks like the big spike we had earlier today was a big buyer trying to push the price up with little success.
Its seems to me that is a whale trying to start a rally. Given the current market circumstances, there is no need to panic buy such amount of coins, why executing that market order with big slippage if you can just place your bids, or execute smallish orders while ask side builds up?
Of course there are other explanations. It could be a whale who just don't care about losing +$10k in slippage, because his pockets are so very deep. Or just a noob whale that doesn't know how this market works and is afraid to miss the train. Or he may be someone knowing that huge news will hit the world soon and there is no time to buy slowly. Or maybe he doesn't even know how to place bids on Gox, don't noobs always buy their first coins with market orders?
All the above seems unlikely to me. This market is so tiny that an individual with a relatively small amount of cash (few millions $) can become a market maker. I guess the vast majority of BTC whales never experienced the feeling of being a "whale" on grown up markets, so they like to play. The most likely objective would be to trigger some panic buying that would make $105 fall, which following TA would be a strong trend reversal indicator.
I'm not buying. The whale seems to be running low on ammo. Wait and see...
Its seems to me that is a whale trying to start a rally. Given the current market circumstances, there is no need to panic buy such amount of coins, why executing that market order with big slippage if you can just place your bids, or execute smallish orders while ask side builds up?
Of course there are other explanations. It could be a whale who just don't care about losing +$10k in slippage, because his pockets are so very deep. Or just a noob whale that doesn't know how this market works and is afraid to miss the train. Or he may be someone knowing that huge news will hit the world soon and there is no time to buy slowly. Or maybe he doesn't even know how to place bids on Gox, don't noobs always buy their first coins with market orders?
All the above seems unlikely to me. This market is so tiny that an individual with a relatively small amount of cash (few millions $) can become a market maker. I guess the vast majority of BTC whales never experienced the feeling of being a "whale" on grown up markets, so they like to play. The most likely objective would be to trigger some panic buying that would make $105 fall, which following TA would be a strong trend reversal indicator.
I'm not buying. The whale seems to be running low on ammo. Wait and see...
July 15, 2013, 08:24:18 AM
100 is cheap, not expensive.
July 15, 2013, 08:22:34 AM
Another attack on 100... someone really wants expensive coins !
tell it to people who sold their coins after bubble in 2011 or 2012 and were in the same situation like we now ... They also did wrong decision by selling and regret now.
What if it is last chance to see double digits forever?
July 15, 2013, 08:16:21 AM
Another attack on 100... someone really wants expensive coins !
July 15, 2013, 08:13:29 AM
It certainly looks like that $500,000 buy had little effect. The resistance is building. The longer we stay here the more it may build.
It's the bid side that is building up, not the resistance...
Well, good to see those bids, a whale may come round for unloading purposes now.
But regarding the resistance. What I mean is psychological and won't show up in the bid/sum. I guess you can find it over time as just being a tough 100 barrier to cross, a place where sellers enter. Really depends as I see another decent buy came in.
Seems like all the big orders, maybe 90% + of them are buys.
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