Topic: Walls crumbling under buying pressure for hours on end (Read 5556 times)
ok I've seen that gif now in 3 different threads can you stop now??
if you had 5 million dollars to put into bitcoin, what would you do?
hmmm,
1. spend 1million on my own asic, mine with about 20TH of it then sell the tech after a year.
2. spend 2million to support ventures that are building/designing/delivering products or services that make the use of bitcoin easier for the average person.
3. spend about 20% of each BTC exchanges weekly trade amount to fund walls.
4. the rest on hokers and blow of course....
As long as for 4 you only pay in BTC.
you can assume that 5 million is only a fraction of your net worth...
the hokers and blow goes to your expense account
if you had 5 million dollars to put into bitcoin, what would you do?
hmmm,
1. spend 1million on my own asic, mine with about 20TH of it then sell the tech after a year.
2. spend 2million to support ventures that are building/designing/delivering products or services that make the use of bitcoin easier for the average person.
3. spend about 20% of each BTC exchanges weekly trade amount to fund walls.
4. the rest on hokers and blow of course....
As long as for 4 you only pay in BTC.
if you had 5 million dollars to put into bitcoin, what would you do?
hmmm,
1. spend 1million on my own asic, mine with about 20TH of it then sell the tech after a year.
2. spend 2million to support ventures that are building/designing/delivering products or services that make the use of bitcoin easier for the average person.
3. spend about 20% of each BTC exchanges weekly trade amount to fund walls.
4. the rest on hokers and blow of course....
remember, the dam has already been breeched.
I think it can still be repaired. We need to avoid a flood.
i agree. slow grinds are the best.
I think that's the intention of the walls. Market-maker trying to keep things under control.
make sense a nice slow rise would be easier to stabilize near the top, allowing the manipulator to slowly sell off at a high price, then stop supporting the high price to let it slowly go down, only to buy back and do it all over again?
if you had 5 million dollars to put into bitcoin, what would you do?
remember, the dam has already been breeched.
I think it can still be repaired. We need to avoid a flood.
i agree. slow grinds are the best.
I think that's the intention of the walls. Market-maker trying to keep things under control.
remember, the dam has already been breeched.
I think it can still be repaired. We need to avoid a flood.
i agree. slow grinds are the best.
remember, the dam has already been breeched.
I think it can still be repaired. We need to avoid a flood.
If it gets breached again you better remove that bear!
remember, the dam has already been breeched.
I think it can still be repaired. We need to avoid a flood.
I guess the manipulator had enough of the wall being eaten... up we go! I bet we're going to hit $7.3 this time 
That's right, no more walls. BUY BUY BUY
That's right, no more walls. BUY BUY BUY
I think we are going to 7.50 $, where the next wall will pop up. (just guessing)
remember, the dam has already been breeched.
I guess the manipulator had enough of the wall being eaten... up we go! I bet we're going to hit $7.3 this time
That's right, no more walls. BUY BUY BUY
That's right, no more walls. BUY BUY BUY
I noticed something very ironic about the Bitcoin market. Yesterday, when there was no depth, nothing happened. Indeed, there were more sellers than buyers. I thought it would hit $8 almost instantly, given that there was almost nothing in the way, but nope. Today, there are walls, and the market has gone into what I call "wall-eating mode" again. In the last few hours, buys outnumber sells by a factor of 7, and 8500 BTC of that formidable wall has been eaten. Yesterday I was feeling very bearish after it went nowhere, but today I am feeling better, even though we are trapped under 7.1.
Perhaps it's better to have walls.
Perhaps it's better to have walls.
When you say, "buys outnumber sells" this can literally be true since every buyer must have a seller. Do you mean what's on the order book? Or are you discriminating between who posted the "wall" (limit order) verses who met it?
I think he means 70% of bitcoin trades are executed by pressing the buy button
and as for the "wall eating mode", why buy 1000 bitcoin at an avg price of 7.20 when you can wait for a wall to show up at 7.10
Nothing ironic here. Walls = liquidity. Without liquidity the big boys don't want to play because slippage kills and gaps get filled.
I noticed something very ironic about the Bitcoin market. Yesterday, when there was no depth, nothing happened. Indeed, there were more sellers than buyers. I thought it would hit $8 almost instantly, given that there was almost nothing in the way, but nope. Today, there are walls, and the market has gone into what I call "wall-eating mode" again. In the last few hours, buys outnumber sells by a factor of 7, and 8500 BTC of that formidable wall has been eaten. Yesterday I was feeling very bearish after it went nowhere, but today I am feeling better, even though we are trapped under 7.1.
Perhaps it's better to have walls.
Perhaps it's better to have walls.
When you say, "buys outnumber sells" this can literally be true since every buyer must have a seller. Do you mean what's on the order book? Or are you discriminating between who posted the "wall" (limit order) verses who met it?
Buy = limit order matching a standing ask
Sell = limit order matching a standing bid
I noticed something very ironic about the Bitcoin market. Yesterday, when there was no depth, nothing happened. Indeed, there were more sellers than buyers. I thought it would hit $8 almost instantly, given that there was almost nothing in the way, but nope. Today, there are walls, and the market has gone into what I call "wall-eating mode" again. In the last few hours, buys outnumber sells by a factor of 7, and 8500 BTC of that formidable wall has been eaten. Yesterday I was feeling very bearish after it went nowhere, but today I am feeling better, even though we are trapped under 7.1.
Perhaps it's better to have walls.
Perhaps it's better to have walls.
When you say, "buys outnumber sells" this can literally be true since every buyer must have a seller. Do you mean what's on the order book? Or are you discriminating between who posted the "wall" (limit order) verses who met it?
7.1 wall steadily getting eaten.
I noticed something very ironic about the Bitcoin market. Yesterday, when there was no depth, nothing happened. Indeed, there were more sellers than buyers. I thought it would hit $8 almost instantly, given that there was almost nothing in the way, but nope. Today, there are walls, and the market has gone into what I call "wall-eating mode" again. In the last few hours, buys outnumber sells by a factor of 7, and 8500 BTC of that formidable wall has been eaten. Yesterday I was feeling very bearish after it went nowhere, but today I am feeling better, even though we are trapped under 7.1.
Perhaps it's better to have walls.
Perhaps it's better to have walls.
I think it is just that anyone paying attention knows there was 20-40k that kept popping on and off, but does actually sell some. When the price broke through we didn't know if those coins would pop up at 7.50 or 7.00 or even lower so there was hesitancy. Now we know (for now). And 7.10 isn't a bad price since we did hit 7.25 so it gets a good amount of action.
I felt similar and was quite suprised by the slow movement equally. But not so much, because larger buys need eqally large sells on the other side. No one wants to buy with a huge slippage to cover. Secondly, the current wall was placed and removed many times unpredictably, thus unsettling traders: Do you want to buy at 7.2$ when you fear that an ASK wall will be placed any minute pushing you and your coins back to 7$?
I am quite certain that once we covered some ground this rally will also pick up pace.
I am quite certain that once we covered some ground this rally will also pick up pace.
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