Topic: Wall Observer - MtGoxUSD wall movement tracker - page 1180. (Read 1811605 times)

We're probably going to see an acceleration of attempts to take profit and/or increase positions since the short term price is clearly trending down now.  I think we'll see an over correction into the 5s and maybe below that before the price goes any higher.  And, again, I still think we've already seen the 2012 high.

Question is, when will he use it to actually buy? 

Yeah, most likely. I saw the same thing happening. Depth chart looks a lot less sexy right now.

Does that mean someone with alot of USD just removed his/her orders which were split in many little ones to make it look like they were organic?

They're called social waves and can be used to predict the future price using Elliott Wave Theorem alongside all other forms of technical analysis.

...well, yea... but... oh forget it.

  there was less bitcoins for sale then there was demand to buy 

well i knew THAT. but i mean, what's driving them? why did we suddenly launch over 5.50 by leaps and bounds?

People wanting to buy and people wanting to sell various quantities of bitcoins at various exchange rates.

while i (think) i totally understand how to read these charts and find it fascinating to watch, i really wish i had some idea what was motivating all this movement. it's wild.

Nah around 10k BTC was removed if I saw that right..

That was cool to watch..


That is opposite of a vapor wall...

Fully sold into..  whew!  fun times

Yep it just got halved.

EDIT: more like two thirds got torn down, just like that

EDIT2: and it's gone. 

Gorbachev... TEAR DOWN THAT WALL!

quite selling pressure - 38% and growing (more and more blood on the right side )

If you want to learn anything about chart analysis, markets, forex,.. go here and use the search engine:
http://www.investopedia.com/active-trading/#axzz1xxvRTOa0

Thanks beckspace! That was extremely helpful! 

25k so close to the market (<5 cents) tells me it someone is ready to pull the trigger at much higher prices. A 25k bid 50 cents off the market is probably some guy trying to goose the market because he's long. I would be careful putting any sell size under $7 at the moment.

by ineededausername:

@roger  look at the graphs in the prior postings.  See the huge vertical on the "bid" (buy) side?  Looks a bit like a wall doesn't it :-).  And it behaves like one... for the price to fall below the wall (6.50 in this case) 25000 BTC would have to be sold at 6.50.  These lines indicate how many BTC are up for purchase (or sale) at or above (below) that price.  So now follow the height of the wall to the right and see where the "sell" line hits 25000.  About 7 in the graph, and the line is pretty linear.  So to descend below the 6.5 wall, sellers would have to reduce their bids enough to give up $.25 per BTC (on average), or 6 grand (3.84%).  So the buy wall is pretty strong, except that it is likely to be made of a single (or very few) buyers who could easily just decide to take the order off the table.  Now imagine if the "sell" line only hit the top of the wall at 10USD.  In this case sellers who chose to reduce their price to make the sale would be giving up on average $1.75 or $43000 (25%).  So not only is the wall important but also whether the whole graph makes a gorge, valley, or even essentially flat on the other side.  And whether the wall is made from a single brick (trader) or a lot of them.



Since there likely aren't too many > 100000USD players on mt gox, I'll bet that 5.7 wall we saw yesterday has been moved forward... a painful penalty for trailing a rising market.  Of course that buyer might have also been putting in smaller market orders but if so, why put up the wall and set seller expectation?