Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32699.

yocko06

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Quote from: MickeyT2008 on July 08, 2013, 06:31:37 AM

Quote from: yocko06 on July 08, 2013, 06:22:16 AM

all of the coins that you guys sold have been bought up. this wall at 80 is holding the price down so bitcoin can be bought at a low price. look behind the wall and this will give an indercation of the availability of bitcoins. when that wall is pulled or sold there won't be many coins available.

This is why I haven't sold, I've seen this trick too many times. I'm also trying to stick to a strategy of trading on medium and long term established trend changes rather than reacting to reversals immediately in panic. This might cut down my ability to make a huge markup but it seems to cut down even more my tendency to jump the wrong way and make a huge loss, so overall it's working out better (and less stressful) for me. I might not be a noob any more but I'm well aware that I'm no pro either so I'm slowly evolving a strategy over time that works for me, and having a strategy and sticking with it seems to be more effective than just spontaneously reacting to things as they happen. Of course though, if I see something that's obviously going to earn me a little in the short term then I'm not going to ignore it, but I'm trying to avoid risky behaviour.

I saw this one coming as it was trending down for a fair while, I managed to sell in the 90's and I bought up at 66.63 and up. it's been a good run to increase my total coins. If it starts to fall again the same thing will be done. now is the time to make some coin but there's no time to do anything else because you need the finger on the pulse. it pays well though;)

MickeyT2008

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Quote from: yocko06 on July 08, 2013, 06:22:16 AM

all of the coins that you guys sold have been bought up. this wall at 80 is holding the price down so bitcoin can be bought at a low price. look behind the wall and this will give an indercation of the availability of bitcoins. when that wall is pulled or sold there won't be many coins available.

This is why I haven't sold, I've seen this trick too many times. I'm also trying to stick to a strategy of trading on medium and long term established trend changes rather than reacting to reversals immediately in panic. This might cut down my ability to make a huge markup but it seems to cut down even more my tendency to jump the wrong way and make a huge loss, so overall it's working out better (and less stressful) for me. I might not be a noob any more but I'm well aware that I'm no pro either so I'm slowly evolving a strategy over time that works for me, and having a strategy and sticking with it seems to be more effective than just spontaneously reacting to things as they happen. Of course though, if I see something that's obviously going to earn me a little in the short term then I'm not going to ignore it, but I'm trying to avoid risky behaviour.

I'm not investing that much yet though, partly because I know I'm not that skilled at trading yet and partly because I'm a skint hippie. However, this week I made a 40% profit and can now join the Hitler Club: https://www.youtube.com/watch?v=4axmD2YvPnA

My previous way of trading just consisted of profit and loss cancelling each other out, meaning that I was getting nowhere. Each day I learn a little more.

gandhibt

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Quote from: yocko06 on July 08, 2013, 06:22:16 AM

all of the coins that you guys sold have been bought up. this wall at 80 is holding the price down so bitcoin can be bought at a low price. look behind the wall and this will give an indercation of the availability of bitcoins. when that wall is pulled or sold there won't be many coins available.

And then comes the next wall, just puff and there it is. Orderbook doesn't mean much. Whales say where we go.

yocko06

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all of the coins that you guys sold have been bought up. this wall at 80 is holding the price down so bitcoin can be bought at a low price. look behind the wall and this will give an indercation of the availability of bitcoins. when that wall is pulled or sold there won't be many coins available.

ChartBuddy

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gandhibt

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There's no fundamentals of downtrend. Downtrend continues until whales buy enough and that's it. They just think that they get more coins from lower prices and that's why we are going to there. They use "standard bubble deflation" work for them. These bounces are here for the same reasons: to shake weak hands.

Fundamentals are the reason why bitcoins biggest trend will always be up, atleast until fundamentals change and they haven't changed ever yet.

MickeyT2008

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Quote from: w00dy on July 08, 2013, 05:19:26 AM

is there ANY reason why coins today should be worth 20-30% more than yesterday? I don't see any. Huh

BTC don't give a fuck about reasons Wink

+1

Spot on!

gizmoh

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Quote from: w00dy on July 08, 2013, 05:19:26 AM

is there ANY reason why coins today should be worth 20-30% more than yesterday? I don't see any. Huh

Exactly, Fundamentals of the downtrend has NOT changed. Its is an attempt by some big actor(s) to uplift the price to dump at better price.
Notice there is no panic buying and volume is not great.
No new influx of USD, no world economic crash, no excellent news for bitcoin, A great price to Sell i say.

MickeyT2008

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Quote from: Rampion on July 08, 2013, 05:23:43 AM

Quote from: w00dy on July 08, 2013, 05:19:26 AM

is there ANY reason why coins today should be worth 20-30% more than yesterday? I don't see any. Huh

Is there ANY reasons why coins today should be worth 6-fold more than in January?

Or indeed any reason why they should only be worth half what they were three weeks ago?

Bit coin may have the advantage over fiat in that the 21 million BTC limit prevents inflation and endless money printing, but it's just the same as fiat in that its only value is the faith that people place in it - in fact it's worse in this respect because due to being almost impossible to spend in the shops people don't automatically equate a certain amount of BTC with an amount of goods - this is why the price fluctuates wildly, until you can spend it normally its only value is that given to it by investors and speculators. This is good for day traders but not so good for BTC itself being taken seriously as a currency. People say it won't become a mainstream currency for normal people to shop with until it becomes stable, personally I think it's the other way around.

Rampion

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Quote from: w00dy on July 08, 2013, 05:19:26 AM

is there ANY reason why coins today should be worth 20-30% more than yesterday? I don't see any. Huh

Is there ANY reasons why coins today should be worth 6-fold more than in January?

w00dy

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is there ANY reason why coins today should be worth 20-30% more than yesterday? I don't see any. Huh

Miz4r

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Quote from: Rampion on July 08, 2013, 04:42:10 AM

200 day EMA (blue line): once support, now resistance

Don't see how the 200 day EMA has ever given support. And the resistance is only there now because of that big ass wall in the way. The market is just waiting for it to be pulled or eaten by a few whales, we'll probably go right through it when America wakes up in a few hours. I think only 90 will prove to be any real resistance, we'll probably bounce off a little there before continuing towards triple digits.

ChartBuddy

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MickeyT2008

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Quote from: Loozik on July 08, 2013, 04:30:48 AM

Quote from: MickeyT2008 on July 08, 2013, 04:07:38 AM

Having only got into trading just after the April crash I kept finding walls suddenly appearing, causing me to panic and 'have to' trade at a loss. By posting this a little while back Frozenlock you really helped me to understand Wallzilla's fiendish plans and to gain rather than lose from them most times. I'm still only trading with a small amount but this insight (along with the experience I'm gaining) has helped to reverse my losses and I'm generally trading better. Thanks for that.

--------------------

DOM (including walls) analysis can be of importance when you trade leveraged instruments, markets are liquid, spreads tight, trades can be short yet profitable and infrastructure sufficient for HFT.

Walls have no significance for current BTC trading (other than watching them for entertainment). Have you seen how many walls were eaten / withdrawn on the way from 136 to 66? Was there any significant wall at 66 that would justify trend reversal? Not really, yet Mrs Market reversed.

Walls are just smoke screens Grin

That 80 something wall will either be withdrawn by the whale or eaten.

----------------------

Nothing happening, going out for a bike ride.

That's right, but until I had it explained to me that this was a deliberate manipulative strategy rather than a simple trend reversal I usually ended up on the wrong side of it. Frozenlock making this clear to me means that I now see what it is and can trade accordingly, panic is not the answer. I don't follow the exact strategy outlined in the post, I just decide what needs to be done according to the circumstances when the hammer strategy is used, recognising it rather than falling for it makes a big difference. BTC is a strange small market with a mixture of noobs and professionals, I'm doing my best to move from the former to the latter category, each day and each success or mistake I make teaches me a little more.

Rampion

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200 day EMA (blue line): once support, now resistance

Loozik

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Born to chew bubble gum and kick ass

Quote from: MickeyT2008 on July 08, 2013, 04:07:38 AM

Having only got into trading just after the April crash I kept finding walls suddenly appearing, causing me to panic and 'have to' trade at a loss. By posting this a little while back Frozenlock you really helped me to understand Wallzilla's fiendish plans and to gain rather than lose from them most times. I'm still only trading with a small amount but this insight (along with the experience I'm gaining) has helped to reverse my losses and I'm generally trading better. Thanks for that.

--------------------

DOM (including walls) analysis can be of importance when you trade leveraged instruments, markets are liquid, spreads tight, trades can be short yet profitable and infrastructure sufficient for HFT.

Walls have no significance for current BTC trading (other than watching them for entertainment). Have you seen how many walls were eaten / withdrawn on the way from 136 to 66? Was there any significant wall at 66 that would justify trend reversal? Not really, yet Mrs Market reversed.

Walls are just smoke screens Grin

That 80 something wall will either be withdrawn by the whale or eaten.

----------------------

Nothing happening, going out for a bike ride.

wonkytonky

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Quote from: Kazu on July 08, 2013, 02:53:43 AM

Quote from: 420 on July 08, 2013, 02:24:05 AM

Wow this weed from silk road really does work!

never heard of this pattern

although.. i'm realy tired of the downtrend.. i rather have it hit bottom soon.. instead of a temporary uprally with sideways up and down to eventualy hit bottom anyways.. lets get it over with so i can make a big long trade for months

MickeyT2008

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Quote from: Frozenlock on May 31, 2013, 05:56:24 PM

I'll just leave this here.

(You could make money if you feel cowboy enough)

Quote from: Goomboo on February 07, 2012, 08:13:30 PM

There are a few things that I have been reticent to talk about, simply because I didn't want the general public to know the stuff that "we" know. However, in the spirit of this thread - helping people to stop losing money - I have decided to share a little.

One of the main and widely-talked about issues is "the manipulator". After watching time and again as individuals have "the hammer" dropped on them, I figured I might as well shed a little light on what may be happening. There are several different strategies being used by a few individuals with "lots" of buying power, so I'll talk a little about the main strategy I see on a daily basis.

The manipulator is basically a large trader who is repetitively practicing a strategy we call "the hammer". It's a simple strategy of deception and can lead to a "crack" in prices. Prior to applying a systematic strategy to the BTC market, I used to trade with him and make a decent profit.

The Hammer (Long)
1. Big trader posts large volume on the ask side
2. Individuals see the ask and try and get in front of him by selling/shorting/lowering their offers
3. He is simultaneously buying at the bid from the small guys
4. As soon as selling volume dries up, he pulls his ask and enters long, causing a jump in prices
5. He sells to the people who buy behind him, scalping a profit

How to Play the Hammer (Long)
1. Watch the volume from the small traders that are trying to trade in front of him
2. When the volume dries up and he pulls his ask - enter long
3. If he doesn't follow soon with a large trade, exit your trade at a scratch or loss

There are several different variants of this strategy, but as a general rule of thumb - if you see a fake bid or ask, the markets are probably going that way soon.

This is more for informative purposes than actual trading advice. See how subjective this is? In my opinion, this type of trading isn't scalable and it doesn't possess long-term profitability, which is what this thread is about. My suggestion is that you take this information as a little "FYI" and stick to a systematic and tested strategy, ignoring the games that go on in the order-book entirely.

Having only got into trading just after the April crash I kept finding walls suddenly appearing, causing me to panic and 'have to' trade at a loss. By posting this a little while back Frozenlock you really helped me to understand Wallzilla's fiendish plans and to gain rather than lose from them most times. I'm still only trading with a small amount but this insight (along with the experience I'm gaining) has helped to reverse my losses and I'm generally trading better. Thanks for that.

tutkarz

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Quote from: dan99 on July 08, 2013, 04:05:30 AM

Moving steady to 80 and above. Climbing up is always difficult compares to coming down.

especially when you can fall at any time.

dan99

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Moving steady to 80 and above. Climbing up is always difficult compares to coming down.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 32699. (Read 26469644 times)