500k of Bitcoins to start your day. Someone was hungry. And we barely moved. 
But someone removed ~5k from 115.
Edit: 500k?
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33811. (Read 26713542 times)
May 10, 2013, 03:30:17 AM
But someone removed ~5k from 115.
Edit: 500k?
May 10, 2013, 03:27:41 AM
Wow, props to Rampion on that timing
This is only the beginning.
May 10, 2013, 03:27:17 AM
500k of Bitcoins to start your day. Someone was hungry. And we barely moved.
May 10, 2013, 03:26:32 AM
Wow, props to Rampion on that timing
May 10, 2013, 03:26:16 AM
There will be a bloodshed very soon, and I see bears in a world of pain.
Good luck to the ones shorting with 4:1 leverage
Good luck to the ones shorting with 4:1 leverage
The bids are pushing forward, much newer orders.
Median order date for the asks <= 122 is Wed, May 8th 15:18:25 GMT.
Median order date for the bids >= 102 is Thu, May 9th 01:42:53 GMT.
That means half the asks from 114-122 were made before Wed, May 8th 15:18:25 GMT. That close to the edge, that's a lot of orders that are in no hurry to sell and haven't changed for days.
The bids are much more recent and pilling up faster. When it gets pushed, it's likely to be pushed up. How far depends on how many people join in.
May 10, 2013, 03:20:35 AM
May 10, 2013, 03:16:06 AM
There will be a bloodshed very soon, and I see bears in a world of pain.
Good luck to the ones shorting with 4:1 leverage
Good luck to the ones shorting with 4:1 leverage
May 10, 2013, 03:12:03 AM
Very interesting post - it describes my position perfectly. After a week of buying selling several times a day, I've been left on the sidelines waiting for movement before jumping back in.
How long would you expect this "stability" to last?
I have a feeling there are a lot of people waiting.
$103-$104 will scare a few people into selling, others might sell into the drop hoping to push it even lower letting them get back in. It should shake up the ask resistance at a minimum.
$118-$119 will lure some people in who are hungry for a rally. It also causes some asks to pull the order, wait to see how far the mini rally goes, then sell.
But we're talking a lot of coins down, a lot of fiat up. Those ask/bids are extremely staggered. You can watch them jostle for position trying to get in front to be the first bid buying or the first ask selling. It's actually pretty funny watching them shift around. Which leads me to believe there's not many fake walls on either side at least in the 5% up/down range.
May 10, 2013, 03:11:45 AM
I return to my uneternal slumber...
where will we be when the sun rises? More nowhere perhaps. I'm expecting the downtrend to continue though.
where will we be when the sun rises? More nowhere perhaps. I'm expecting the downtrend to continue though.
May 10, 2013, 03:07:15 AM
This is called market making and is very healthy/quite useful. From what I hear, mature markets all have this type of behavior in very large volumes.
For bitcoin, it allows entities like bitpay, coinbase, etc to operate with limited slippage.
For bitcoin, it allows entities like bitpay, coinbase, etc to operate with limited slippage.
For Bitcoin I agree it's a good thing. I personally prefer volatility, bloodshed, panic, despair, exuberance and then of course exhaustion. I guess the roller coaster has to slow down at some point, at least for awhile.
Just wait... any market makers that have too tight a clamp on the market will get washed out as soon as we break out decisively.
May 10, 2013, 03:03:38 AM
This is called market making and is very healthy/quite useful. From what I hear, mature markets all have this type of behavior in very large volumes.
For bitcoin, it allows entities like bitpay, coinbase, etc to operate with limited slippage.
For bitcoin, it allows entities like bitpay, coinbase, etc to operate with limited slippage.
For Bitcoin I agree it's a good thing. I personally prefer volatility, bloodshed, panic, despair, exuberance and then of course exhaustion. I guess the roller coaster has to slow down at some point, at least for awhile.
May 10, 2013, 03:02:12 AM
May 10, 2013, 03:02:06 AM
people buying this amount are thinking longer term.. them expect the price to go up in the future. so it's a bullish indicator ... unless it's lended money(and would be a stupid move to make right now).. then it will come down again if price doesn't move up much
one trader being long term bullish does not mean the market can move through the current resistance in the short term
May 10, 2013, 03:00:07 AM
people buying this amount are thinking longer term.. them expect the price to go up in the future. so it's a bullish indicator ... unless it's lended money(and would be a stupid move to make right now).. then it will come down again if price doesn't move up much
May 10, 2013, 02:56:46 AM
I guess people love Bitstamp to cash out.
But I can confirm: Bitstamp follows Mt.Gox everytime, despite wallsize and anything else.
But I can confirm: Bitstamp follows Mt.Gox everytime, despite wallsize and anything else.
orderbook to thin on bitstamp.. this is not a real representation .. just watch gox..
the reason why bitstamp follows gox is simple.; bitfinex is connected to bitstamp.. this means instant arbitrage on bitstamp.
May 10, 2013, 02:51:46 AM
May 10, 2013, 02:48:06 AM
someone is getting impatient and bought 2k of coins 
May 10, 2013, 02:47:57 AM
Walls are looking pretty healthy. $4M+ of coin or dollars required for a 15% movement in either direction.
Side Note: What the odds the big cats are completely trolling us with this "stability" before they start effing shit up again?
Side Note: What the odds the big cats are completely trolling us with this "stability" before they start effing shit up again?
The problem with that is people are buying, but they aren't holding. They're turning around trying to sell it at a small markup. And it seems the amount of people doing this in the last mini-crash has put up a huge chunk of legitamite asks that make it very slow going if we're going up.
.
wait until uptrend is there again
traders will hold .. it has been down trend for a while..(medium scope) it doesn't make sense to keep btc as a trader.. wanting to make a quick profit.. in down trend.this is my tactic in uptrend:
buy coins... they will increase in value after a week.
lend equal amount of coins .. they will increase in value after a week
when a "little" correction happens.. sell the borrowd coins and short if possible.. .. and get the fiat profit. at the bottom of the correction.. buy new coins with the fiat profit.
this way I have double profit on the coins I started with.
with downtrend.. I just do the opposite..
so basically it does not matter which way it goes there's always an opportunity.
at this point i'm putting some bid offers at lower price you never know to get lucky to have some cheaper coins..in the weekend dip.
i'm not expecting for new big selloffs to happen so i'm getting my bull hat ready for the coming weeks.. it might take some time but .. imho.. up is the way to go after consolidation.
I'm a bull in general though.. I like the price to become high enough so the "mainstream" traders with millions at their hands can join the ride.. now the orderbooks are way to thin.
also I just have a "gut feeling" it will go uptrend again , have been right most of the time (90%) it's still a gamble though haha "this is Bitcoin"
Regards
wonky tonky
May 10, 2013, 02:46:48 AM
It's happening?!
May 10, 2013, 02:46:26 AM
I guess people love Bitstamp to cash out.
But I can confirm: Bitstamp follows Mt.Gox everytime, despite wallsize and anything else.
But I can confirm: Bitstamp follows Mt.Gox everytime, despite wallsize and anything else.
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