Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 33971.

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

Quote from: annette786 on April 16, 2013, 09:42:01 PM

Quote from: fitty on April 16, 2013, 09:36:03 PM

I'm worried someone will take them up on the offer and dump 15k BTC on the market. Even if it's a fake/bug wall, I'm still surprised no one has decided to test it. 30% of the people predicting the 24 hr low think we'll be below $50 within 20 hours.

So if no one will bite on the $70 mega buy out, they certainly won't be dumping if it slides into the $60 or $50s. At least for now the panic has left the room.

'tis a valid point.

probably for this reason alone we will not go below $50 my hunch is

with image - 1.11M dollars.... now what i want to know is if this is someone very rich who put that money into the system, or someone who sold a lot of coins at $260ish and now has all that to play with on Gox...? thoughts?

Terpie

full member

Activity: 174

Merit: 101

It's easy. If you want to buy a million dollars worth of coins, you're probably pretty smart and know what you're doing. And if you know what you're doing, then you don't try to buy them by putting one order in the order book at one price thats been beaten through several times in the last 24 hours.

annette786

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Quote from: fitty on April 16, 2013, 09:36:03 PM

I'm worried someone will take them up on the offer and dump 15k BTC on the market. Even if it's a fake/bug wall, I'm still surprised no one has decided to test it. 30% of the people predicting the 24 hr low think we'll be below $50 within 20 hours.

So if no one will bite on the $70 mega buy out, they certainly won't be dumping if it slides into the $60 or $50s. At least for now the panic has left the room.

'tis a valid point.

keewee

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fitty

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Merit: 501

CryptoTalk.Org - Get Paid for every Post!

I'm worried someone will take them up on the offer and dump 15k BTC on the market. Even if it's a fake/bug wall, I'm still surprised no one has decided to test it. 30% of the people predicting the 24 hr low think we'll be below $50 within 20 hours.

So if no one will bite on the $70 mega buy out, they certainly won't be dumping if it slides into the $60 or $50s. At least for now the panic has left the room.

Quote from: ?? on ??

to buy or not to buy...

The-Real-Link

hero member

Activity: 533

Merit: 500

But that's the thing with these. Does someone want to buy a lot of coin and not move the market prices? Or does the wall encourage an upward trend since it is well, a wall? Or rather, downward pressure for tons of people to sell into and it can maybe hold? Or... all of the above?!

fitty

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Quote from: The-Real-Link on April 16, 2013, 09:14:41 PM

Million Dollar (14K coin) Bidwall just went up @ $70! Hope it holds.

Looks like we've run out of panic sellers.

The-Real-Link

hero member

Activity: 533

Merit: 500

Million Dollar (14K coin) Bidwall just went up @ $70! Hope it holds.

elux

legendary

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Merit: 1006

just1nmc

sr. member

Activity: 280

Merit: 250

Someone is throwing up big bid walls

giszmo

legendary

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WalletScrutiny.com

looking at this chart I wonder how many people would have an incentive to borrow money at high interest just to paint some volume for us TA experts. I mean seriously, if I wanted to cash out 200k bitcoins, I would easily pay 30% p.a. interest for three weeks to borrow $10M. Given the only risk is that MtGox will not give me back my money I guess it would even be easy to convince some wealthy friend who is not at all into Bitcoin.

keewee

legendary

Activity: 1025

Merit: 1000

70 gone

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

Quote from: Frozenlock on April 16, 2013, 08:32:26 PM

Don't you think we'll re-test the ~$50 price beforehand?

doubtfull,the 50$ floor is not imaginary.

it all comes down to psychology
sellers don't want to sell below 50$
buyers are happy to buy tons at 50$

... RALLY!

Frozenlock

sr. member

Activity: 434

Merit: 250

Don't you think we'll re-test the ~$50 price beforehand?

Sitarow

legendary

Activity: 1792

Merit: 1047

Notice the pattern in price every 24hrs.. Is a drop of almost $10

***** April 16th 2013*****

***** April 15th 2013*****

***** April 14th 2013*****

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

good post.

Quote from: michaelGedi on April 16, 2013, 06:45:41 PM

ok, on topic:

Here you can see the big buy wall at $50 that a large amount of people have put up in case the price drops while they are AFK.

After reading the forums all day - and a lot of "old hand" at that - it seems $50 is the most talked about bottom. Perhaps a psychological sticking point if you will.

This is my first attempt to read this chart publicly...

Also, could someone please tell me what the green line represents exactly?

when / if we drop down to 50's for good, everyone will be talking about 40$ being the bottom Tongue

the green line is the price moving up and down during the last 12h of trading.

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

ok, on topic:

Here you can see the big buy wall at $50 that a large amount of people have put up in case the price drops while they are AFK.

After reading the forums all day - and a lot of "old hand" at that - it seems $50 is the most talked about bottom. Perhaps a psychological sticking point if you will.

This is my first attempt to read this chart publicly...

Also, could someone please tell me what the green line represents exactly?

Frozenlock

sr. member

Activity: 434

Merit: 250

Volume around $50 was insane. The resistance at this price will now be over 9000, or something.

adamstgBit

legendary

Activity: 1904

Merit: 1037

Trusted Bitcoiner

looking back at the last 10 days we can clearly see the bubble popping and the first good attempt at catching the resulting knife.

you can see that when the bubble popped at ~266$ their was a big dip in price without much volume ( everyone let the knife fall )
but now at 80-50$ rang we are seeing HUGE volume spikes when their is any kind of movement up or down.
I think if we are not already at bottom, its not too far down...

Zomdifros

full member

Activity: 210

Merit: 100

So now we have to stay on topic all of a sudden? Alright, here is a wall pic and I predict the price to reach $1000 before July and $10k before 2014.

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