Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33621. (Read 26495565 times)

Extended periods of low volume slowly creep up until the situation becomes characterized by a large market order. Market hasn't shown any willingness to break 116 since the last time it was 120 and 114 is also 12 hours behind us.


30k depth to 100 may be the only thing stopping the market sells

Someone posted on facebook about his price checker app getting banned. I presume it relied on the APIs.

Gox has restricted bots in the past by doing something with the APIs or banning accounts/IPs.  I can't find their post about it, but I know it's been done. Wouldn't be surprised if the same is going on now.

*edit*

Also, I'm seeing a lot less of the obvious bot orders (0.0001, etc).  There are still a few, but it's a tiny fraction of what was going on yesterday.

Not to my knowledge. I guess there are simply no buy/sell signals for the bots.
What should a bot do if the market is moving sideways?

Has Gox limited or disabled the bots?  If so, it's a bad omen when that results in almost no volume... Another indication of how much control the bots really have.

Nah, if you buy you buy from the asks but you cannot simply multiple the ask price with the amount of Bitcoins you want to buy if the number of Bitcoins you wish to buy exceeds the number of Bitcoins offered at that ask price. Slippage shows how much more you have to pay over the current market price to get the number of Bitcoins you wish to acquire.

The same holds true for the selling side of course

I think its how much money is wasted due to rounding error...not sure though...

But aren't we just trying to find a price and go from there? I mean looking at outstanding shares, shouldn't be be able to find an agreeable price. It is hard for me to look at this just as a TA thing.

Yes, the bull run up was unsustainable but it happened at an interesting time and to find a price. Now we have started a correction and none of us really know where it is going. Also, the market has just opened up more to China it seems.

I think sentiment is what is going to drive this, at least in large part. The other part might just be services and such - things that enable BTC.

What does slippage mean on theBTC clarkmoody page?

It's all good. Jaroslaw is just pissed we're not at single digits yet. And give the level of movement, the chart is still fairly accurate.  

Yes, they are just gambling against you. They will accept any amount of "short", regardless of how much anybody else goes "long".

Welcome to the derivatives world. This is how this big blackhole financial crisis started - didn't you know?

They just gamble ad infinitum with funny papers and debt money. And when everything goes south, we bail them out - not directly to plus500 in this case, but to the banks and funds that own them/lend them the money (in this case are UK financial institutions).

I believe that the ascending bullish lows represent the notion that the underlying long term trend is consistent with the January-March trend, e.g. doubling every 30 days. This notion is unsustainable.

I believe that the descending bearish highs represent the bubble collapse. Bubble theory says that typical bubbles give back all their speculative gains.

Perhaps one month from the April 10 peak at $266 is long enough for the predominant trader sentiment to shift to the fact that the waves of new buyers are diminishing, causing demand to likewise diminish, causing prices to likewise diminish.

divine

Haha, yeah, it's pretty bad. I'll add some logic in to not post up if there's no data. You'll probably still see the 9am central chart though. Actually, I'll just turn it off. Gox probably isn't coming back in a hurry.

Shouldn't the issuer (plus500) try to behave risk-neutral? Are they fully gambling against you? Will they only accept as much "short" as somebody else goes "long"?
Besides that I really really like the interface - worlds between that and gox.

How cool is it that the bearish highs and bullish lows have converged on the one month anniversary of the big crash from 266?

Mere coincidence or divine forces at work?

Waiting for it to hit $115-120, before I turn around and short, but good luck

so basically as the market consolidates, everyone is waiting for the next move...

It's essentially a case of who takes the initiative first as far as I see it. The price is settling now and the vast majority are playing "wait and see".

The dumpers will have perhaps played their hands already... the DDOS-ing recently may well be an attempt to break the consolidation downwards and gain cheap coins, possibily as they are worried about the "green" outcome.


Considering the massive amount of media coverage and slowly turning positive spin, and the fact the whole world has either glimpsed or is watching Bitcoin, I think further growth is in order. On a slightly different note I also think it's time those sitting on coins they have been hoarding start to invest COINS in the infrastructure, it will do them and everyone else some good. I would also argue that a return to the January trendline makes sense considering the exposure that bitcoin has had.

I don't believe all the bulls have played their hands yet -

If you are one of the many on this thread waiting for cheap coins in the hope that the price will rise again afterwards, you should know exactly what to do. Buy now and establish the gradual uptrend, don't wait and see and either A - potentially be left behind, or B - allow the drop to happen and potentially establish a downtrend. The kind of impact this would have (discounting a possible massive fuck up on the side of MtGox and/or any other fairly catastrophic event that would affect the price in the same way) will be positive for bitcoin in the longer term. People are sheep and they need some renegade sheep to break out and follow - sheep bulls.

Of course, I'm looking at the possible outcome through my own rose tinted glasses. I want bitcoin to grow for a variety of reasons including my own personal gain. I'm tired of waiting for the perfect buy in point and I believe it may well be sitting right in front of us staring us in the face.

I'll be taking that "gamble" in the next 10 hours and then probably buying some ASICMINER shares to hold for the mid/long term.


Just some thoughts there that you may or may not find helpful or interesting

http://bitcoincharts.com/charts/chart.png?width=940&m=mtgoxUSD&SubmitButton=Draw&r=5&i=2-hour&c=1&s=2013-05-05&e=2013-05-09&Prev=&Next=&t=S&b=&a1=EMA&m1=11&a2=EMA&m2=21&x=1&i1=RSI&i2=&i3=&i4=&v=1&cv=0&ps=0&l=0&p=0&
RSI flatline at exactly 50, with ridiculously low volumes. I don't know what to think.
This being Bitcoin, it has to mean that something is about to get kicked loose, right?

Nobody lends you nothing. They are CFD's (https://en.wikipedia.org/wiki/Contract_for_difference) - one of the many financial scams AKA derivatives that Bitcoin was meant to fight.