Wrong way, Bitcoin
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33102. (Read 26465922 times)
June 05, 2013, 05:14:28 PM
June 05, 2013, 05:14:08 PM
What would be the point of that wall at 124 exactly?
It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?
Perhaps it's not the beginning of a breakout.....
If it did break $124, it would likely be a breakout. Otherwise it won't likely ever touch $124. Putting a sell order there is moot.
look at 2013-05-23(did break $124) then 2013-06-02
June 05, 2013, 05:13:09 PM
What would be the point of that wall at 124 exactly?
It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?
Perhaps it's not the beginning of a breakout.....
If it did break $124, it would likely be a breakout. Otherwise it won't likely ever touch $124. Putting a sell order there is moot.
What are you all talking about ? There are 1000 coins sitting at $124 ... big deal ... and another 3000 to get there
Look at the order book ... there is no 'wall' ... there are a bunch of orders above and below current price that seem to balance quite nicely
Edit ... there are about 300 at $124 and about 800 at $123.9999 ...
June 05, 2013, 05:12:53 PM
Actually you're explaining why the markets go up on speculation. I was talking intrinsically. Owning a business is owning income generation which is automatically hedged for inflation as the prices of produce increase with inflation.
Until your customers can't afford your prices because their income has been devalued.
I'm not saying any business is a good investment.
It's not about the business being a good investment. It's about debasement of the currency.
June 05, 2013, 05:12:18 PM
If it did break $124, it would likely be a breakout. Otherwise it won't likely ever touch $124. Putting a sell order there is moot.
Big "if", considering we didn't near touching 124, and yes, because that is the resistance of the current wedge. There was never the buy volume to break up to begin with.Wedge is indeed nearing breaking point, but I think we break out downward if it breaks.
~ Something like:
June 05, 2013, 05:06:18 PM
What would be the point of that wall at 124 exactly?
It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?
Perhaps it's not the beginning of a breakout.....
If it did break $124, it would likely be a breakout. Otherwise it won't likely ever touch $124. Putting a sell order there is moot.
June 05, 2013, 05:02:29 PM
June 05, 2013, 05:01:43 PM
What would be the point of that wall at 124 exactly?
It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?
Continuation pattern...
June 05, 2013, 05:01:00 PM
What would be the point of that wall at 124 exactly?
It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?
Perhaps it's not the beginning of a breakout.....
June 05, 2013, 04:58:49 PM
i love this game 
selling asks to people.. directly putting bids below it.. cash in repeat
selling asks to people.. directly putting bids below it.. cash in repeat June 05, 2013, 04:55:33 PM
Away for 30 minutes and this happens 
I wish I saw these dumps, how big were the biggest ones?
I wish I saw these dumps, how big were the biggest ones? 
June 05, 2013, 04:55:04 PM
And another dump. This is all so pointless
June 05, 2013, 04:51:34 PM
What would be the point of that wall at 124 exactly?
It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?
Yup, that's what i was thinking.
June 05, 2013, 04:40:55 PM
Actually you're explaining why the markets go up on speculation. I was talking intrinsically. Owning a business is owning income generation which is automatically hedged for inflation as the prices of produce increase with inflation.
Until your customers can't afford your prices because their income has been devalued.
I'm not saying any business is a good investment.
June 05, 2013, 04:38:55 PM
Actually you're explaining why the markets go up on speculation. I was talking intrinsically. Owning a business is owning income generation which is automatically hedged for inflation as the prices of produce increase with inflation.
Until your customers can't afford your prices because their income has been devalued.
June 05, 2013, 04:25:06 PM
What would be the point of that wall at 124 exactly?
It doesn't make much sense, most of the orders won't get filled unless the wall is broken through, and why would anyone want to sell at the beginning of a breakout?
June 05, 2013, 04:09:07 PM
Actually you're explaining why the markets go up on speculation. I was talking intrinsically. Owning a business is owning income generation which is automatically hedged for inflation as the prices of produce increase with inflation.
June 05, 2013, 04:03:32 PM
Nikkei down 4%. Man, is that like down over 20% or so in two weeks?
http://www.bloomberg.com/markets/stocks/world-indexes/
Yup. Europeans market have been in the red for quite a few days also... and now the Americans (as in the true definition of the word).
Fun times.
Thanks, I didn't know about the European info (odd considering I'm in Germany).
I have heard from a few different sources (reliable with other stock market top calls) that the DOW will hit 16000 or so max and then POP goes the weasel. That will also coincide with a fall of the dollar.
Not saying I believe that, but I am watching for that...
Devaluation of the Dollar is actually what drives the market up
I understand that quite well. I prefer to just call it inflation, soon to be hyperinflation if they keep doing what they are doing. They are printing 85 billion new dollars every month. The banks that receive this are investing some of those $$$ in the stock market. The Fed I believe has as much as said that they are involved in asset (stock market) allocation. People who have money in the bank, hurt by artificially low interest rates are also putting money in the stock market. So, we have a sideways to falling economy, decreasing productivity, very high unemployment rates, people working 2 or more jobs and often being completely overqualified for what they are doing = A rising stock market. I guess most folks believe CNN, FOX, etc.
Anyway, the thing that is keeping things going is that people believe in the money. Money is essentially faith, we are seeing that with BTC. Intriniscally it has value for a few reasons, most notably its cryptographic security imo. Once people stop believing in the dollar, once they can't keep printing dollars to make the stock market go up (e.g. - worsening economy, rates that need to rise) = POP goes the weasel.
My point with the 16,000 level in the DOW was that, that is around when their game ends, regardless of printing more money or not.
June 05, 2013, 04:02:15 PM
June 05, 2013, 04:00:57 PM
What would be the point of that wall at 124 exactly?
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