No volume, but bids rising and a ton of asks to eat!
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33556. (Read 26494789 times)
May 14, 2013, 08:37:15 AM
Feels like December 2012
No volume, but bids rising and a ton of asks to eat!
No volume, but bids rising and a ton of asks to eat!
May 14, 2013, 08:34:53 AM
Increased volume allowed the rally to more closely approach the ask walls at $120 and $125.
May 14, 2013, 08:34:10 AM
Slow and steady upwards.
May 14, 2013, 08:33:37 AM
Come on bulls, lets tear down this motherf´n 120 Wall. Only 4K and then sky is the limit. 
Cant be that hard.
Cant be that hard.I suspect it's going to take a lot more than 4K to get there.
Todays volume is currently 15,110 if we get to $120 it would be interesting to see what the volume is at that point.
The big wall is on $125
You are probably right but for now - one step at a time. If we keep this slow growth all will be fine, at least with me.
Cheers
May 14, 2013, 08:26:24 AM
Come on bulls, lets tear down this motherf´n 120 Wall. Only 4K and then sky is the limit. Cant be that hard.
Cant be that hard.I suspect it's going to take a lot more than 4K to get there.
Todays volume is currently 15,110 if we get to $120 it would be interesting to see what the volume is at that point.
The big wall is on $125
You are probably right but for now - one step at a time. If we keep this slow growth all will be fine, at least with me.
Cheers
May 14, 2013, 08:19:42 AM
Come on bulls, lets tear down this motherf´n 120 Wall. Only 4K and then sky is the limit. Cant be that hard.
Cant be that hard.I suspect it's going to take a lot more than 4K to get there.
Todays volume is currently 15,110 if we get to $120 it would be interesting to see what the volume is at that point.
The big wall is on $125
May 14, 2013, 08:17:47 AM
Come on bulls, lets tear down this motherf´n 120 Wall. Only 4K and then sky is the limit. Cant be that hard.
Cant be that hard. 
May 14, 2013, 08:17:04 AM
Investors and speculators may very soon get tired of waiting for cheaper coins.
Fiat on the order book is growing, we are at its highest peak in the last 15 days - and very close to ATH
Fiat on the order book is growing, we are at its highest peak in the last 15 days - and very close to ATH
I believe this very thing. This will be one of those deciding moments for Bitcoin. Will they exit the market entirely or will they buy in at higher prices? This will tell a lot about investors long term commitment to Bitcoin.
I'm still patiently waiting to get on board after selling 108 coins at $98. I kicked myself for not buying at $111 and at $115. Now I'm thinking that $120 will be crossed and its time to buy again.
EDIT: I've bought back in
come on $125 
May 14, 2013, 08:11:38 AM
Investors and speculators may very soon get tired of waiting for cheaper coins.
Fiat on the order book is growing, we are at its highest peak in the last 15 days - and very close to ATH
Fiat on the order book is growing, we are at its highest peak in the last 15 days - and very close to ATH
I believe this very thing. This will be one of those deciding moments for Bitcoin. Will they exit the market entirely or will they buy in at higher prices? This will tell a lot about investors long term commitment to Bitcoin.
May 14, 2013, 08:04:33 AM
Bears are stepping back, they fear a bloodshed
Bulls strengthening their positions, almost $22M in Gox's order book.
Bulls strengthening their positions, almost $22M in Gox's order book.
May 14, 2013, 08:03:43 AM
And the only way to foil his scheme? Ignore the fake panic sells. And it looks, to me, like people did start just doing that....
So maybe that's why we now have relatively long-term stability -- manipulators biding their time until the tactics work again.
So maybe that's why we now have relatively long-term stability -- manipulators biding their time until the tactics work again.
Not to mention stability removes panic from the market. Volatility adds it. For someone to create this stability then try to dump the price doesn't make much sense. Lots of good news this week, more coming I'm sure, going to be hard to generate a lot of panic and crash the price. I'd be extremely surprised to see sub $100 this week.
May 14, 2013, 08:03:06 AM
May 14, 2013, 07:40:21 AM
A single person is propping up LTC, so it's not like it would take some kind of elaborate scheme.
My theory is similar but the motive behind it is just plain old greed by a 'whale'.
I suspect someone is propping up the price by placing the massive bid walls with his fiat while at the same time selling his remaining BTC at the artificially propped up price. When someone buys BTC at this level a seemingly never ending supply of BTC is put straight back into the asks at very similar if not identical prices.
I'd be surprised if this is related to the conference in any way.
When this whale has sold enough of his coins the bids will disappear and he will dump the remainder creating a free fall so he can buy back cheaper and repeat the whole process.
For example, take the last 5 days. The bid and ask walls are still there and look about the same size to me. Yet somehow within the confines of these walls nearly 150,000 BTC have changed hands. During that time the price hasn't changed that much. Nearly all of these BTC that have changed hands were not part of the solid 'walls' so they are being traded within the confines of the 'trap'.
Just a theory of mine.
And the only way to foil his scheme? Ignore the fake panic sells. And it looks, to me, like people did start just doing that....
So maybe that's why we now have relatively long-term stability -- manipulators biding their time until the tactics work again.
May 14, 2013, 07:39:09 AM
A single person is propping up LTC, so it's not like it would take some kind of elaborate scheme.
I suspect someone is propping up the price by placing the massive bid walls with his fiat while at the same time selling his remaining BTC at the artificially propped up price. When someone buys BTC at this level a seemingly never ending supply of BTC is put straight back into the asks at very similar if not identical prices.
I'd be surprised if this is related to the conference in any way.
When this whale has sold enough of his coins the bids will disappear and he will dump the remainder creating a free fall so he can buy back cheaper and repeat the whole process.
For example, take the last 5 days. The bid and ask walls are still there and look about the same size to me. Yet somehow within the confines of these walls nearly 150,000 BTC have changed hands. During that time the price hasn't changed that much. Nearly all of these BTC that have changed hands were not part of the solid 'walls' so they are being traded within the confines of the 'trap'.
Just a theory of mine.
The longer the price stays here, the harder it is to "dump". That's why you "pump" then "dump". You push the price up to a level where people believe it's higher then it should be. Making it easier to push back down (people panic sell, people take profit).
The bid side is well within normal ranges, when you factor in the low volume. Speaking of the volume, 150k coins traded is less then normal. I looked at the times the bid orders were placed, I don't see a spike in bid orders in a small timeframe.
I have my doubts the "stability n dump" strategy is going on, or would even work very well.
May 14, 2013, 07:16:41 AM
A single person is propping up LTC, so it's not like it would take some kind of elaborate scheme.
My theory is similar but the motive behind it is just plain old greed by a 'whale'.
I suspect someone is propping up the price by placing the massive bid walls with his fiat while at the same time selling his remaining BTC at the artificially propped up price. When someone buys BTC at this level a seemingly never ending supply of BTC is put straight back into the asks at very similar if not identical prices.
I'd be surprised if this is related to the conference in any way.
When this whale has sold enough of his coins the bids will disappear and he will dump the remainder creating a free fall so he can buy back cheaper and repeat the whole process.
For example, take the last 5 days. The bid and ask walls are still there and look about the same size to me. Yet somehow within the confines of these walls nearly 150,000 BTC have changed hands. During that time the price hasn't changed that much. Nearly all of these BTC that have changed hands were not part of the solid 'walls' so they are being traded within the confines of the 'trap'.
Just a theory of mine.
May 14, 2013, 07:13:48 AM
It's a bubble... correction coming soon.
You're right, 400 is unsustainable... we're going to crash back down to around 200 pages in the next few days, followed by a long, slow slide to the double digits (though Proudhon says single).
May 14, 2013, 07:08:36 AM
It's a bubble... correction coming soon.
May 14, 2013, 07:02:54 AM
May 14, 2013, 07:01:00 AM
UK taxmen, police and spies look at Bitcoin threat
http://www.ft.com/intl/cms/s/0/42ca6762-bbfc-11e2-82df-00144feab7de.html#axzz2TGEytQ2t
Bitcoin is a threat now!
http://www.ft.com/intl/cms/s/0/42ca6762-bbfc-11e2-82df-00144feab7de.html#axzz2TGEytQ2t
Bitcoin is a threat now!
paywalled link
http://www.ft.com/intl/cms/s/2/42ca6762-bbfc-11e2-82df-00144feab7de.html
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