Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33516. (Read 26461345 times)

We will break 125 tmr. Bearish? you wish.

i don't put much stock in it. the standing orders have less and less of an influence on the market the further you get from the current price point, because bluffing is low cost without the risk of your 'fake' wall being filled.

also, i try to determine points of resistance from direct price history analysis rather than walls in the order book. from my experience, there is usually a wall at a 'real' support/resistance, but the relationship isn't two-ways. just because there is a wall, doesn't mean it is a real support/resistance.

basically, i ignore it for the most part. reading the tide-like ebb and flow of the spread near the price point is minimally useful for anticipating micro-term movements, but beyond that it isn't good data for analysis, in my experience.

He's saying the influx makes it necessary for a such a dip, if it is going to happen, to occur before the new money arrives.

Why would a bunch of new money on Tuesday cause the price to go sub-$100?

Hear ye, hear ye: http://www.reddit.com/r/Bitcoin/comments/1dry23/the_first_open_outcry_exchange_opening_in_nyc/

When do you see this happening? I would think the influx of investors on Tuesday would necessitate it happening before then.

General TA question, how do you factor in the order book? Not just in what you're seeing now, but in general when you look over the data. The depth, the consolidation, the consolidation at price points. What percetnage of the asks are real, what percentage get pulled as the bid wall approaches? Does that even matter?

Buy the rumour, sell the news. They (CCP) are now loaded, and may be ready to cash out short term. Long term china will be a major playa.

Yes, it will go back sub-100 briefly, goat is right.

LOL someone has a massive ego. 

Pump or not the price is going up at least for the near-term (that being the pump phase).

If the CCP's Propaganda Ministry is hyping BTC you can bet your ass you're amidst a pump. It's not some noble endorsement of new technology by the Party's "broad minded" leaders, it's a play. Nothing that comes out of that regime should be taken at face value. It's not a normal government and not a normal society.

Let's not forget that a major bubble popped less than 30 days ago. It took one year for the price to return to $30 after the 2011 bubble. For me the only thing holding us back from the strong downward pressure from the last crash is the Chinese news. People have been squabbling over what this news means in the short-range. What are the implications of this for the months to come? This is MAJOR progress for bitcoin. The Chinese government is most certainly backing bitcoin as we have had multiple media leaks endorsing it. It cannot be an isolated event.

The investors will probably be pretty bad until the bad ones lose capital. Therefore I expect a lot of volatility in the coming weeks.

https://i.imgur.com/0gqLspo.png

We're actually riding this upper wall. I believe the reason we have not crashed (and appear to be rallying) after we smashed the 120 wall and wallzilla jumped ship is because the market is deciding how it is going to react to the China news. The market WILL react to this positively, it is simply too big to ignore. I see a steady rise upwards that gets refueled on Tuesday when the new money is released (the new investors will be happy to jump on the upswing, and actually, this is quite good IMO. This will act as a catching net and widen the base of initial investors from China. Only good things ahead for BTC  

doubt it, this movement just completed a still-bearish wedge.

The strong price action, leads me to think, we'll see 134 soon.   

Thank you for these kind words, sir.

But please remember that at times, 40% of this thread is metatalk about me, and the raison d'être of this thread is to observe the walls that the wallmasters set up. There are other threads available, if you want to discuss my fundamental research in an atmosphere of dignity, or contempt.

The latter thread, is shown as follows in my screen:

There is a solution for that, you buy lot of ChinaCoins hoping you'll hit 15-20% profit in few hours with it being first day on exchange just to wake up and watch it going down for 40% after you refused to sell for some 6-7% profit.

After that you don't give a flying one where bitcoin will finish and sleep as a baby  

bid/ask spread looking extremely bullish. a significant number of asks in the the $120 region have vacated in the last hour.

All i know is rpietila has fun. No matter what he is doing, at least he's taking the bull by the horns and doing something..

We need more people in the world like him.

yeah I felt like Mister Penis in late 2012 when I sold $13, $14 after buying around 10


yeah I think he's real and just seems weird because he's a foreigner (not a USA/general internet citizen that speaks English like he's from an American Frat for example)

personally i'm hoping for a combo of the last two. but the first is a possibility, i admit. a lot of what gets said here (by everyone) goes over my head a bit.