Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33478.

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

Quote from: justusranvier on May 18, 2013, 01:03:08 AM

The cool thing about this conference is that I got to chat with Brian Armstrong before he went on to Free Talk Live, and I learned why they had so many problems with low daily limits on the number of BTC they could sell. It was because of limitations placed on them by their bank, not anything inherent to their processes or backend capability. Apparently the bank has removed this limit as a result of their success in raising $5 million in additional capital.

Once awareness of this increased capability spreads, I expect it to have the same effect on the price in the medium term that their initial unveiling of ACH purchases had back at the end of January.

Great inside info JR. Interesting.

samson

legendary

Activity: 2097

Merit: 1070

Quote from: el_rlee on May 18, 2013, 02:53:37 AM

Quote from: d5000 on May 18, 2013, 01:34:19 AM

This "Get-out-of-Gox" yankee-rally won't last long Cheesy

I don't see the volume for that

From what I understand the Dwolla users transfer a few hundred dollars at a time so there's no surprise there.

ChartBuddy

legendary

Activity: 2352

Merit: 1819

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

ChartBuddy

legendary

Activity: 2352

Merit: 1819

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

el_rlee

legendary

Activity: 1600

Merit: 1014

Quote from: d5000 on May 18, 2013, 01:34:19 AM

This "Get-out-of-Gox" yankee-rally won't last long Cheesy

I don't see the volume for that

ChartBuddy

legendary

Activity: 2352

Merit: 1819

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d5000

legendary

Activity: 3906

Merit: 6249

Decentralization Maximalist

This "Get-out-of-Gox" yankee-rally won't last long Cheesy

justusranvier

legendary

Activity: 1400

Merit: 1013

The cool thing about this conference is that I got to chat with Brian Armstrong before he went on to Free Talk Live, and I learned why they had so many problems with low daily limits on the number of BTC they could sell. It was because of limitations placed on them by their bank, not anything inherent to their processes or backend capability. Apparently the bank has removed this limit as a result of their success in raising $5 million in additional capital.

Once awareness of this increased capability spreads, I expect it to have the same effect on the price in the medium term that their initial unveiling of ACH purchases had back at the end of January.

ChartBuddy

legendary

Activity: 2352

Merit: 1819

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

ChartBuddy

legendary

Activity: 2352

Merit: 1819

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

ChartBuddy

legendary

Activity: 2352

Merit: 1819

1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ

Abandon

member

Activity: 112

Merit: 10

Quote from: NamelessOne on May 17, 2013, 10:14:35 PM

Quote from: Abandon on May 17, 2013, 10:13:22 PM

There's a strong buy wall right now, and the sell wall is vulnerable.

That 1300 wall has been reduced to 500 so far. Not THAT strong.

What I look at are the shapes of the wall, not so much how many buys there are to sells. For instance, inward curved walls have a lot of strength the more curved and smooth they are. Staircases, and linear walls are often the weakest.

It has a lot to do with the mentality of the traders, smart traders space out their orders, at optimum positions, and don't use whole numbers.

If there's an outward curve, that likely means that there is a resistance/support wall, that once broken, the sky becomes the limit (At least until people start selling).

Curved walls also tend to be the most adjusting, while other walls can be there from old orders, and are not often very strategically placed.

Stairs in the wall, only give traders a target, the more stairs at whole numbers, the more easily it will break under continuous attack, that is unless it comes to the point of being curved instead.

If there is one large break, it is a strong resistance/support, that can eventually break if not removed, but depends on where the market is heading in the long term.

Stairs that are far away, are possible resistance/support points, that could easily form a curve between three or so of them when reached.

If this proves useful to you, please tip a few cents! v

NamelessOne

legendary

Activity: 840

Merit: 1000

Quote from: Abandon on May 17, 2013, 10:13:22 PM

There's a strong buy wall right now, and the sell wall is vulnerable.

That 1300 wall has been reduced to 500 so far. Not THAT strong.

Abandon

member

Activity: 112

Merit: 10

There's a strong buy wall right now, and the sell wall is vulnerable. I see it reaching at least $127 before there is some sell wall resistance.

NamelessOne

legendary

Activity: 840

Merit: 1000

mmm munching away at 125.31

ChartBuddy

legendary

Activity: 2352

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randrace

sr. member

Activity: 329

Merit: 250

LTC -> BTC -> Silver!

Quote from: ShroomsKit on May 17, 2013, 08:49:51 PM

1700 pages and I still haven't noticed that Wall Observer is all about drawing lines on charts!

Don't worry, buddy; You'll get the hang of it!

muyuu

donator

Activity: 980

Merit: 1000

Bulls time.

Choo choo.

Ultraviolet

member

Activity: 84

Merit: 10

1k wall moved from 123 to 124.

Coinseeker

sr. member

Activity: 252

Merit: 250

We're still in a fairly overbought position, which we've been in all day, since breaking through 120. I would guess there's easily room to get into 125 but breaking though I'm not so sure. Even if we managed, unless the wall at 126 is a fake, I just don't see how there's enough steam to push through. I'd look at the price maxing in the 125 range and easing it's way back down a bit, much like what it's done all day.

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