Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33424. (Read 26496938 times)
May 24, 2013, 06:56:36 AM
Bye bye $128 wall
May 24, 2013, 06:54:30 AM
I am seeing a very interesting technique being used on bitstamp right now:
Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
You have to ask yourself why someone's so desperate to sell off a large amount of Bitcoin.
May 24, 2013, 06:36:57 AM
I am seeing a very interesting technique being used on bitstamp right now:
Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
If you could see the pattern with your bare eyes, it's hardly subtle. HFTs would eat this kind of obvious pattern for breakfast in real markets, the price would run constantly just out of reach of all but the highest bid, knowing they had a big fish on the line. Just my 0.02Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
I don't think the bots on our exchanges are that sophisticated yet...
But you are right, there are still obvious ways to improve on it: don't place as many orders in advance, and vary the spacing, timing and amount more, to make it look disconnected.
Still, it is working, and he is doing it at the right point of time, so he is slick enough.
Edit: here you can see him placing new sell orders:
May 24, 2013, 06:29:27 AM
I am seeing a very interesting technique being used on bitstamp right now:
Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
If you could see the pattern with your bare eyes, it's hardly subtle. HFTs would eat this kind of obvious pattern for breakfast in real markets, the price would run constantly just out of reach of all but the highest bid, knowing they had a big fish on the line. Just my 0.02 Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
May 24, 2013, 06:11:38 AM
I am seeing a very interesting technique being used on bitstamp right now:
Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.
Pretty slick operator, if you ask me...
May 24, 2013, 05:49:19 AM
Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?
Simple, just base it on the logarithm of the price.
Thanks, but I think I've got it now. It's simpler than that.
One re-bases the order book so MMR is 1. lets call it $125. A $100 dollar bid at $10 dollars gets weighted by 0.08. An equally weighted ask of $100 would be priced at $1562 (the price at which current MMR represents only 8%.)
So who do I need to beg for historical daily snapshots of the full depth API?
https://bitcointalksearch.org/topic/mtgox-usd-depth-historic-data-for-your-pleasure-88054
I'll pitch in half the 200btm if you share it with me.
As an aside; I can't help but feel I'm re-inventing the wheel here though. Brokers have had Level 2 data for years, why don't we have common TA indicators for depth like we do for Volume and Price. Am I missing something? Is this kind of thing common in CFA textbooks?
May 24, 2013, 05:35:18 AM
Well, be happy for the buyer. He managed to buy 400BTC without having to move his wall upwards by a single cent. I love that when I'm buying.
He did move the wall up from 123.5 to 124.0, with the bid wall standing at 124.15. So I guess it was a fair offer and both buyer and seller can be happy about a deal well struck.
May 24, 2013, 05:34:10 AM
7 days high broken again.
Next milestone, breaking the 30d high ($166.43). That should take a while, but with BTC you never know. Breaking $130 with nice volume could trigger some nice panic buys
Next milestone, breaking the 30d high ($166.43). That should take a while, but with BTC you never know. Breaking $130 with nice volume could trigger some nice panic buys
If you look back at the top of the candles on April 20, 21, 22nd, (http://bitcoin.clarkmoody.com/) that is exactly where we sit right now. And that was right before a move up. I would really like for us to be around $130 or so and sitting on that support, rather than below it.
IAS
May 24, 2013, 05:28:14 AM
bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
400BTC is such a small amount that I wouldn't even call that a wall. Maybe a mini-wall.
But I get that Bitstamp and Gox standards are different.
believe me, 400BTC counts as a (small) wall on bitstamp...
Well, be happy for the buyer. He managed to buy 400BTC without having to move his wall upwards by a single cent. I love that when I'm buying.
May 24, 2013, 05:26:34 AM
bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
400BTC is such a small amount that I wouldn't even call that a wall. Maybe a mini-wall.
But I get that Bitstamp and Gox standards are different.
believe me, 400BTC counts as a (small) wall on bitstamp...
200BTC is a miniwall, 1000BTC is a really big one
May 24, 2013, 05:24:30 AM
bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
400BTC is such a small amount that I wouldn't even call that a wall. Maybe a mini-wall.
But I get that Bitstamp and Gox standards are different.
May 24, 2013, 05:23:16 AM
bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...
May 24, 2013, 05:15:52 AM
7 days high broken again.
Next milestone, breaking the 30d high ($166.43). That should take a while, but with BTC you never know. Breaking $130 with nice volume could trigger some nice panic buys
Next milestone, breaking the 30d high ($166.43). That should take a while, but with BTC you never know. Breaking $130 with nice volume could trigger some nice panic buys
May 24, 2013, 05:13:19 AM
420BTC bid wall at 123.5 at bitstamp.
Damn that was close
Edit: wall moved up to 124.0 (and shrunk to 390BTC)
Damn that was close
Edit: wall moved up to 124.0 (and shrunk to 390BTC)
May 24, 2013, 05:08:37 AM
New 7 days high just broken.
Little by little, lonely bears are left behind
Little by little, lonely bears are left behind
May 24, 2013, 05:07:51 AM
I'm just going to leave this here...
http://www.gizoogle.net/tranzizzle.php?search=https%3A%2F%2Fbitcointalk.org%2Findex.php%3Ftopic%3D174620.0%3Ball&se=Go+Git+Dis+Shiznit
http://www.gizoogle.net/tranzizzle.php?search=https%3A%2F%2Fbitcointalk.org%2Findex.php%3Ftopic%3D174620.0%3Ball&se=Go+Git+Dis+Shiznit
LOL, I need to make this my default browsing portal.
That is some funny ass shit.
May 24, 2013, 05:05:02 AM
There was just an interesting ask wall of 130BTC at 122.75 on bitstamp. It did not last long...
But interesting because it gave me the chance to rebuy the coins I foolishly sold at 123.0 yesterday. Still a small loss after fees, but almost nothing.
I am all in again
But interesting because it gave me the chance to rebuy the coins I foolishly sold at 123.0 yesterday. Still a small loss after fees, but almost nothing.
I am all in again
May 24, 2013, 04:48:36 AM
Yeah, it must feel bad to be a bear right now... Pockets full of fiat, feeling sad and lonely because everybody left him behind*...
*kudos to fitty
*kudos to fitty
May 24, 2013, 04:40:49 AM
If you guys have not picked up on the sentiment....next 48 hours will definitely be bullish.
Dont get left behind.
Dont get left behind.
May 24, 2013, 04:32:34 AM
I think the $130 Ask wall has come down from about 20K/15K to this in the last 20 or so hours.
Yup, i think it was 20k not too long ago.
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