Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33941. (Read 26503578 times)
April 24, 2013, 12:13:40 AM
What happened to this thread supposedly "Hardcore" without silly pictures or text? If it's gonna be like the first one, you might as well do a 51% on the old one and stop this thread fork.
April 24, 2013, 12:08:21 AM
What if the whole crash was the mid-May'11 phase of the bubble (for those of you who were there back then)?
What if it all ends, not at $266, but at $1000?
What if it all ends, not at $266, but at $1000?
I was here for the 2011 bubble, I would enjoy this scenario greatly!
Thousands of bitcoiners are going to retire soon!
Several hundred already did methinks ...
April 23, 2013, 11:30:28 PM
April 23, 2013, 11:14:45 PM
There is not enough bid volume (see blockchained.info) to pass 150.
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Simple, if all the buy orders higher than ....$132 on the bid side can stop sit and shit, and come down to attack the wall, it will be gone.
Actually most of it is coming from under 50. if you take a look at bitcoinity
People thought they could buy lower but now realize that will never happen. I bet most are buying back at A loss
Agreed, all this bubble talk was BS.
If it truly were a bubble there wouldn't be tons of fiat chasing bitcoins right now...ON and OFF exchanges.
April 23, 2013, 10:45:42 PM
There is not enough bid volume (see blockchained.info) to pass 150.
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Simple, if all the buy orders higher than ....$132 on the bid side can stop sit and shit, and come down to attack the wall, it will be gone.
Actually most of it is coming from under 50. if you take a look at bitcoinity
April 23, 2013, 09:24:48 PM
There is not enough bid volume (see blockchained.info) to pass 150.
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Simple, if all the buy orders higher than ....$132 on the bid side can stop sit and shit, and come down to attack the wall, it will be gone.
April 23, 2013, 09:22:41 PM
There is not enough bid volume (see blockchained.info) to pass 150.
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Yeah dude, ATH territory is definitely not enough. /s
April 23, 2013, 09:21:07 PM
There is not enough bid volume (see blockchained.com) to pass 150.
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
Let's stabilize in the 140s a couple of hours and then we will attack the great wall
April 23, 2013, 09:16:38 PM
$145 just fell.
Bring it on $150!!! Sitting there all smug and wall-like.
150 looks all cool and shit on the outside, but on the inside hes all panicky and ready to bounce any moment.
+1. I guarantee that wall is fake.
Buy into it and owner will remove it.
What a loser lol
April 23, 2013, 08:57:10 PM
$145 just fell.
Bring it on $150!!! Sitting there all smug and wall-like.
150 looks all cool and shit on the outside, but on the inside hes all panicky and ready to bounce any moment.
April 23, 2013, 08:53:24 PM
Bring it on $150!!! Sitting there all smug and wall-like.
April 23, 2013, 08:31:06 PM
$145 just fell.
April 23, 2013, 06:51:20 PM
What's amazing me is the way the bid side keeps so steady or builds, even after large volumes of buys at the $130 and $140 mark. pre-$140 we were 40k+13k down to $120/$130, and now we're 40k+15k, and that's after all the $140 buying. We were 67k down to $100 and 31k up to $150 , and now we are 67k + 24k, so the bid side really is doing a great job, considering the buying at $130 and $140
Once we break $150 i wouldn't be surprised to see us go up to $200 quite quickly as the panic buying starts and supply drops
Once we break $150 i wouldn't be surprised to see us go up to $200 quite quickly as the panic buying starts and supply drops
This might be heretical in a wall-observer thread, but people are wasting too much time reading the chicken entrails of wall movements.
For every buyer there is also a seller, for every dollar in there is a dollar out of Bitcoin. The only reason the price goes up is sentiment.
When sentiment changes then floods of sell orders will appear from nowhere. I bet there was a monster wall at $230 when the price hit $266, but it didn't do any good. If the price suddenly shot to $1000 then there would soon be a tidal wave of sellers taking profits until it hit the last level where sentiment had a consensus ($125, or even $95).
I think the 4-year logarithmic trendline is the best indicator of sentiment, based on fundamentals, and this points to a stable price at $200 and eventually $1000 in the future, but not because of all the wall-dances along the way.
I watched the move to $266 live, the bid side got weaker and weaker and total bids plummeted before the crash. At one point I believe the depth down to $100 dropped to ~30-40k BTC.
Depth does matter.
April 23, 2013, 06:49:15 PM
What's amazing me is the way the bid side keeps so steady or builds, even after large volumes of buys at the $130 and $140 mark. pre-$140 we were 40k+13k down to $120/$130, and now we're 40k+15k, and that's after all the $140 buying. We were 67k down to $100 and 31k up to $150 , and now we are 67k + 24k, so the bid side really is doing a great job, considering the buying at $130 and $140
Once we break $150 i wouldn't be surprised to see us go up to $200 quite quickly as the panic buying starts and supply drops
Once we break $150 i wouldn't be surprised to see us go up to $200 quite quickly as the panic buying starts and supply drops
This might be heretical in a wall-observer thread, but people are wasting too much time reading the chicken entrails of wall movements.
For every buyer there is also a seller, for every dollar in there is a dollar out of Bitcoin. The only reason the price goes up is sentiment.
When sentiment changes then floods of sell orders will appear from nowhere. I bet there was a monster wall at $230 when the price hit $266, but it didn't do any good. If the price suddenly shot to $1000 then there would soon be a tidal wave of sellers taking profits until it hit the last level where sentiment had a consensus ($125, or even $95).
I think the 4-year logarithmic trendline is the best indicator of sentiment, based on fundamentals, and this points to a stable price at $200 and eventually $1000 in the future, but not because of all the wall-dances along the way.
April 23, 2013, 06:43:58 PM
Very much like a month ago. We just need a government to do something stupid in 5... 4... 3...
April 23, 2013, 06:22:47 PM
Situation looks very similar to April 7th from that graph, volume numbers are also similar. Main difference is though that total bid sum (and ask sum too) is way higher.
Yes really quite remarkable. April 7th set us back almost exactly 2 weeks. We won't be truly out of the woods until the ask sum roughly halves. ) is that the total ask remained high so that people don't get the 'out of the woods' feeling resulting in another bonkers spending spree and its inevitable consequence!I like loads of bitcoins on the order book as a constant reminder that people will sell if the price is right and could easily sell loads - so don't get carried away with the buying!
Keep in mind fiat paper = infinite money supply
Bitcoin = 11 million coins to date
I kinda like the idea of us learning to live with high bid and ask pressure as 'the norm'. Opening up the steam locomotive up too quickly will release a lot of the steam pressure and the wheels will turn impressively fast but they are just spinning and are hardly pulling the train at all. Opening up a little less quickly maintains a head of steam whilst effectively transferring the energy to the wheels so that the whole train slowly gains momentum until you've got something pretty heavy hurtling along the tracks at some rate!
April 23, 2013, 06:12:46 PM
150 certainly looks like a bad mofo at the moment. Then 130 did too at some point. It might happen the 120's again, few days of trying to break 150.
Wouldnt be surprised if the wall at 150 is composed of mostly fake orders that will be moved.
April 23, 2013, 06:07:27 PM
150 certainly looks like a bad mofo at the moment. Then 130 did too at some point. It might happen the 120's again, few days of trying to break 150.
April 23, 2013, 06:01:12 PM
Situation looks very similar to April 7th from that graph, volume numbers are also similar. Main difference is though that total bid sum (and ask sum too) is way higher.
Yes really quite remarkable. April 7th set us back almost exactly 2 weeks. We won't be truly out of the woods until the ask sum roughly halves. ) is that the total ask remained high so that people don't get the 'out of the woods' feeling resulting in another bonkers spending spree and its inevitable consequence!I like loads of bitcoins on the order book as a constant reminder that people will sell if the price is right and could easily sell loads - so don't get carried away with the buying!
Well, there's ~25k of that orderbook just to $150.
April 23, 2013, 05:58:02 PM
Situation looks very similar to April 7th from that graph, volume numbers are also similar. Main difference is though that total bid sum (and ask sum too) is way higher.
Yes really quite remarkable. April 7th set us back almost exactly 2 weeks. We won't be truly out of the woods until the ask sum roughly halves. ) is that the total ask remained high so that people don't get the 'out of the woods' feeling resulting in another bonkers spending spree and its inevitable consequence!I like loads of bitcoins on the order book as a constant reminder that people will sell if the price is right and could easily sell loads - so don't get carried away with the buying!
Keep in mind fiat paper = infinite money supply
Bitcoin = 11 million coins to date
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