Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33576.

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: Odalv on May 11, 2013, 04:13:55 PM

Quote from: Frozenlock on May 11, 2013, 04:11:16 PM

Quote from: DavidBAL on May 11, 2013, 04:05:47 PM

I dont know what you mean by the 30 btc comment.

Ok, say I want to sell 4000 BTC for at least $115. I can't do it in one big swoop, otherwise I'll just trigger a panic sell.

Instead, I wait for the buy bids to creep up and sell to them, while making sure I don't sell lower than $115.

Obviously it works as well for buying.

All I'm saying is that I've witnessed someone(s) cashing out slowly.

When I'll be cashing out then first step will PUMP the price.

How? Walls are closing in, it's less easy to manipulate (on the cheap).

Unless you wait for the mother of all consolidation triangle and try to make an upward breakout. Grin

Odalv

legendary

Activity: 1414

Merit: 1000

Quote from: Frozenlock on May 11, 2013, 04:11:16 PM

Quote from: DavidBAL on May 11, 2013, 04:05:47 PM

I dont know what you mean by the 30 btc comment.

Ok, say I want to sell 4000 BTC for at least $115. I can't do it in one big swoop, otherwise I'll just trigger a panic sell.

Instead, I wait for the buy bids to creep up and sell to them, while making sure I don't sell lower than $115.

Obviously it works as well for buying.

All I'm saying is that I've witnessed someone(s) cashing out slowly.

When I'll be cashing out then first step will PUMP the price.

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: DavidBAL on May 11, 2013, 04:05:47 PM

I dont know what you mean by the 30 btc comment.

Ok, say I want to sell 4000 BTC for at least $115. I can't do it in one big swoop, otherwise I'll just trigger a panic sell.

Instead, I wait for the buy bids to creep up and sell to them, while making sure I don't sell lower than $115.

Obviously it works as well for buying.

All I'm saying is that I've witnessed someone(s) cashing out slowly.

MAbtc

hero member

Activity: 826

Merit: 508

No volume to confirm, could be a false break. But maybe cheap coins in near future.

Rampion

legendary

Activity: 1148

Merit: 1018

$500k just disappeared from the order book, all at once.

Somebody preparing for a dump? On a weekend? Or just too scared of a bearapocalypse on Monday?

DavidBAL

full member

Activity: 193

Merit: 100

Always riding the Bull...

Quote from: Jaques on May 11, 2013, 04:07:12 PM

lol

not all sales are manipulations ...

every day there is at least one sr-dealer or similar cashing out who does not care to much I reckon

Exactly, I couldn't be more bullish.. but I'm selling some btc soon to make a down payment on a house. That's just real life..

Jaques

member

Activity: 112

Merit: 10

lol

not all sales are manipulations ...

every day there is at least one sr-dealer or similar cashing out who does not care to much I reckon

DavidBAL

full member

Activity: 193

Merit: 100

Always riding the Bull...

Quote from: Frozenlock on May 11, 2013, 03:36:04 PM

I don't know... since yesterday I've witnessed sellers cashing out slowly.
Every time there's enough bids (~ 30 btc) upward of a round number... *sell*.

Also: BTC prices don't care about walls. Cheesy

This dosen't quite make sense to me... I dont know what you mean by the 30 btc comment. Any of the large sells could have been executed at any time, there is 40k+ depth to 100, in past 24 hours we've seen about 10,000 btcs worth of market sells, compared with about 2k market orders or so... though limit orders have been building nicely. I realize individual walls don't mean much as they can get pulled in a second, but the arb trader in me basically only cares about depth.. price is irrelevant (well maybe not irrelevant Cool

) and the fact the walls are not being pulled means this is organic btc demand, not day trading bulls hoping to manipulate with ghost walls

Jaques

member

Activity: 112

Merit: 10

114 on hourly chart being defended mainly by bots and small buys

Bitcycle

sr. member

Activity: 420

Merit: 250

Could go either way from here, but down has a lot more resistance than up. I wouldn't have gambled selling at 114, but a lot of people seemed to.

A lot of people have been waiting for coins at 112 or less. What if this dip goes up without hitting that level?

UltimateReaper

newbie

Activity: 56

Merit: 0

The waters are still calm for now. We all aught to cherish these valuable moments.

Frozenlock

sr. member

Activity: 434

Merit: 250

Quote from: DavidBAL on May 11, 2013, 03:31:16 PM

If I was short, I would be looking to take profits soonish. Lack of sell side depth would scare the shit out of me, this could be just a couple people dumping which would explain why there is no market power behind sell off.. bids aren't being cancelled, asks aren't being added to... What 3k btcs to move price back up $7? Don't see risk/reward payoff there

I don't know... since yesterday I've witnessed sellers cashing out slowly.
Every time there's enough bids (~ 30 btc) upward of a round number... *sell*.

Also: BTC prices don't care about walls. Cheesy

DavidBAL

full member

Activity: 193

Merit: 100

Always riding the Bull...

If I was short, I would be looking to take profits soonish. Lack of sell side depth would scare the shit out of me, this could be just a couple people dumping which would explain why there is no market power behind sell off.. bids aren't being cancelled, asks aren't being added to... What 3k btcs to move price back up $7? Don't see risk/reward payoff there

Coinseeker

sr. member

Activity: 252

Merit: 250

Somebody better call Al-Assad and see if he wants to invest. Wink

Quantum_Negatum

member

Activity: 84

Merit: 10

Might be an exciting weekend after all.

Jaques

member

Activity: 112

Merit: 10

Quote from: Frozenlock on May 11, 2013, 03:22:14 PM

Weeeee, down we go!

seen?

edit:

if 114 does not hold I would expect to see 106/107
at least that is ... Wink

Coinseeker

sr. member

Activity: 252

Merit: 250

Free fall...

Frozenlock

sr. member

Activity: 434

Merit: 250

Weeeee, down we go!

Jaques

member

Activity: 112

Merit: 10

Quote from: Frozenlock on May 11, 2013, 02:57:25 PM

Quote from: Jaques on May 11, 2013, 02:46:51 PM

t/a wise things are getting worse by the hour IMO

Mind to explain? In my book we broke upward the main triangle of doom.

stoch
rsi
mac

but accu/distru looking fine as always
(thats why I am mid-term bull)

regarding that triangle;

it may have not been the predominant formation
and the volume breaking was not significant enough anyway
hence there was no consolidation above 120 much less it passed 125
(120/125 is high resistance zone)
so we may have seen a false break out if any

so we could be up for the second breakout, down this time
which also could be false, which wouldnt surprise me as the market loves to fool people

will be very interesting to observe volume at time of break and later turnaround

but this are just my two satoshis Wink

Coinseeker

sr. member

Activity: 252

Merit: 250

Quote from: phoenix1 on May 11, 2013, 03:00:51 PM

Quote from: Hawker on May 11, 2013, 02:42:02 PM

it only takes a few dictators to use it to avoid confiscation and the value will shoot to well over $10,000 per coin.

Concrete example: Hosni Mubarak had $70 billion confiscated when he lost power. If he had been able to get even a quarter of that into Bitcoin, it would still be his and Bitcoin would be worth over $20,000 each.

So hang in there - this idea has more potential for massive gains than any other investment opportunity around today.

That is the worst advert I ever heard for Bitcoin
"Roll up, roll up, profit from dictatorship here!"

I would rather be poor in your terms

+1

"...But we hate banking and governmental corruption, that's why we love Bitcoin." Roll Eyes

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