Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33169.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: nmersulypnem on June 28, 2013, 12:43:02 PM

Quote from: gizmoh on June 28, 2013, 12:24:30 PM

Quote from: byronbb on June 28, 2013, 12:05:34 PM

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

You have a point here. Eyes often glued on clarkmoody, that strategy makes sense, previous support at 100 was removed just before passing it. Lets see how the walls at 95 act.

Those fake buy walls are actually a huge risk for the wall owner. He thinks he's just propping up the price for his smaller sells, but if another whale wants to cash out, he can easily sell into them and the wall owner will be stuck with 3K extra coins that he can't unload.

Yep, that happens all the time and might happen today.

nmersulypnem

full member

Activity: 238

Merit: 100

Quote from: gizmoh on June 28, 2013, 12:24:30 PM

Quote from: byronbb on June 28, 2013, 12:05:34 PM

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

You have a point here. Eyes often glued on clarkmoody, that strategy makes sense, previous support at 100 was removed just before passing it. Lets see how the walls at 95 act.

Those fake buy walls are actually a huge risk for the wall owner. He thinks he's just propping up the price for his smaller sells, but if another whale wants to cash out, he can easily sell into them and the wall owner will be stuck with 3K extra coins that he can't unload.

Nightowlace

hero member

Activity: 980

Merit: 1001

Quote from: QuestionAuthority on June 28, 2013, 11:44:58 AM

Nah, sell on the down buy at the bottom. But where's the bottom?

That's the million dollar question

Quote from: N12 on June 28, 2013, 11:53:05 AM

This isn't a billion dollar market and it never has been.

Eventually, currently not even close.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: seleme on June 28, 2013, 12:21:51 PM

Quote from: QuestionAuthority on June 28, 2013, 12:18:12 PM

Trading with my few coins I feel like a kid playing on a railroad track with a train coming.

Lol, yeah. I don't have btc to trade anymore, I'm all in altcoins but dropped a huge bollocks on ltc last night. Sold near the top just to panick and rebought few hours later. And of course, it's 7-8% down today and who knows where will stop, could probably easily pick up 10% more ltc if I stayed cool.

I hate these missed opportunities much more than buying at top and losing money.

Yeah, I got monster lucky with ltc. I started mining early on, first solo and then with litecoinpool. I had a shitload of ltc and got nervous and sold all just below 6. Only really good move I've made so far besides buying a bunch of btc at 2.50. The long stable flat at 120-130 made me sell a bunch of those though. I kept a couple hundred to play with but this isn't fun anymore. Cry

gizmoh

legendary

Activity: 1428

Merit: 1000

Quote from: byronbb on June 28, 2013, 12:05:34 PM

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

You have a point here. Eyes often glued on clarkmoody, that strategy makes sense, previous support at 100 was removed just before passing it. Lets see how the walls at 95 act.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Quote from: QuestionAuthority on June 28, 2013, 12:18:12 PM

Trading with my few coins I feel like a kid playing on a railroad track with a train coming.

Lol, yeah. I don't have btc to trade anymore, I'm all in altcoins but dropped a huge bollocks on ltc last night. Sold near the top just to panick and rebought few hours later. And of course, it's 7-8% down today and who knows where will stop, could probably easily pick up 10% more ltc if I stayed cool.

I hate these missed opportunities much more than buying at top and losing money.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Trading with my few coins I feel like a kid playing on a railroad track with a train coming.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Of course it's that, I've post about it last night.

Huge number of bitcoins went to asic miner manufacturers and mining farms. AMC asset on bitfunder collected 20 000 BTC on it's own on IPO, then there are Avalon chip sales and their mining Wink

, KNCMiner, Bitfury, BFL...

It's hundreds of thousands of coins. These companies have to sell lot of these to pay for their daily expenses etc. And they can't dump it all at once as the price would plummet so they're keeping the buy bids a bit to sell slowly and get most fiat out of their btc.

BTC price won't stop dipping until ASIC revolution comes near the bottom, there's just too many coins being used to purchase them and those coins are not being bought on exchanges, they're mostly coming from loaded individuals who mined them with GPU earlier.

deadweasel

sr. member

Activity: 364

Merit: 250

Quote from: QuestionAuthority on June 28, 2013, 12:11:41 PM

Quote from: deadweasel on June 28, 2013, 12:09:16 PM

Quote from: byronbb on June 28, 2013, 12:05:34 PM

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

It feels heavily propped. Watching the buy bots fill in $1-3 worth of spread for weeks now. I think this a good working theory, byronbb.

Very good but who needs to dump that much?

That I don't know. ^ This I don't know either, but the theory is seems sound, no?

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: deadweasel on June 28, 2013, 12:09:16 PM

Quote from: byronbb on June 28, 2013, 12:05:34 PM

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

It feels heavily propped. Watching the buy bots fill in $1-3 worth of spread for weeks now. I think this a good working theory, byronbb.

Very good but who needs to dump that much?

deadweasel

sr. member

Activity: 364

Merit: 250

Quote from: byronbb on June 28, 2013, 12:05:34 PM

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

It feels heavily propped. Watching the buy bots fill in $1-3 worth of spread for weeks now. I think this a good working theory, byronbb.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: byronbb on June 28, 2013, 12:05:34 PM

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

BFL?

barbs

hero member

Activity: 854

Merit: 1000

800 coin dump! i cought 5 and tossed them to GBP Lol

byronbb

legendary

Activity: 1414

Merit: 1000

HODL OR DIE

So someone wants to unload huge coinage and is propping up buy side to pick off anything offered above his fake walls? Since gox has usd delays he can bleed it out slowly over two weeks. I've been scratching my head at this market for days now and can only come up with this.

N12

donator