Bitcoin Forum

It seems some big trades are taking place...

People are trading.

Nothing major. At all.

Always on a monday at this time. Chinise are in full force.

Market deciding whether to snap the record 8-week downtrend, or ... not...

Americans operating high frequency bots and paying nothing in commission fees to do so.

sweaty balls indeed..
inb4 bulltrap in to dead cat bounce.

Record??
6 months in 2011

I think they're trying to force an inverse H&S
http://www.sierrachart.com/image.php?l=1393821677128.png

big trades? its the lowest volume day in months

You sure about that?  The bid is there on this breakout of the down trendline.  I'd close the short if I were you.  Too bullish.

Shorts were selling like crazy into 1000 BTC bid @ 572, then it all looked good, then another 1800+ bid came to push it above the trendline.

I'd put a short stop at 585 if you are still short.

strong 1m buywall at $575.56

This shit is whack.

Lower highs every week since new year.
In 2011 some weeks spiked up although the monthly trend was down.

Someone is definitely trying to push price up above $580 resistance.

Another 3000K BTC chip placed into bid wall just below spot Probably on Bitfinex and being routed through stamp. Am Watching a flurry of smaller bids 'panic buy' below it.

I will believe $580 being broken through when I see it, and if the trader placing that 3K playing chip just below spot really wants Bitcoins at this price range, then Bitcoin must surely break out through $580 soon.

More likely than not, he just wants Bitcoins price to rise (perhaps yet more Bitfinex short stop loss farming), other than actually having to fork out his 3 Million USD himself in order to make it rise, leaving him in danger of becoming one great big huge bag holder if the market just doesn't buy it. in the end.

Treacherous times right now for smaller fish.

If I wasn't already short, I would be keeping the fuck away from this market right now....won't be going long either, even if $580 is broken through.....all about manipulation right now and I don't know the manipulators end game.

Welcome to low volume trading. zzzzz

It's almost Gox o'clock.   Surely someone has 5k coins to market sell?

I wished they did, and I wish they just dumped them straight into that 3K BTC cocksuckers bid wall.

It is fake, in that he has no intentions of it being triggered and picking up 3K BTC at $580, but he is trying to push up Bitcoin to meet the 4Hr PSAR, at which point much of the bot trading and human traders alike, will switch from net sell to net long mode. Every chance that he is sitting with 3 Million USD of liquidity just behind spot, and placing BTC sell orders at at around $580 as panic buying little fish gladly jump the queue 'in front of the monster that is seemingly about to push Bitcoin to stratosphere....we will see.

I am on verge of short margin call being triggered here but will not be going long on the back of this bullshit......not until $580 is strongly tested and even then I would want to see high volume support at higher prices than $580 if the market is to rise on the back of this bullshit.

I suspect a price spike, followed by bid wall support....3 million USD bid slips away followed by a massive dump.

EDIT: Liar! I jumped in long on gravy train with all the other little plankton...but will keeping my eyes peeled like a hawk on that 3K BTC bid. As soon as it disappears for more than 30 seconds I am out.

Don't be a bear in denial, earlier on there was a 2k bid wall being eaten now 3k wall. He genuinely wants to buy and no one to sell at this range now..
Might be our 10k noob sell whale, back in business.

Edit: Wall moved up to 584, he wants coins..

Any chance this is related to the Ukraine situation - Bitcoin the "safe haven" ha!,   Gold up this morning.
Maybe fear out of Ukraine is bringing people into Crypto?

Maybe a naive question but since I don't see anyone reflecting this point of view*:

Why not fundamentals? Russia starting shit -> stocks down, rubble down, gold up,  Bitcoin up.

 


*beaten by a micro-second by Asrael! you b! :P Hate trashing two lines of typing.

We will see when the price gets to 599

I am long....

but nervously long.

as soon as that 3K bid gets pulled, I am out.

EDIT: If he wants coins, he is not being very clever about it. What is someone who is not very clever doing in charge of a spare 3 million USD liquidity?

He wants the price to go higher, but why?

To sell later at higher price!

I think we are going higher.  This market has been completely and utterly oversold. Its been 6 straight down weeks. That is really insane. 6 down weeks in a row. And this week is just barely green. Barely. So far.

So if we don't bounce after Gox finally going away then that's pretty damn bearish.

I think we go to the 700's and then down to the 300 EMA in the next couple of months. Then this bear market will actually be over.

Might be a much higher price though.

All indicators are now pointing towards net long position, thanks to the whale pushing market up over resistance line. Bot traders are now going to be going net long, TA 101 subscribing human traders will now look at charts and decide net long.

Having been squeezed out my short position, I am now long.......but very nervous about being long.

Either this 3K whale is some retard who is going to end up paying way more for his 3K Bitcoin than he would otherwise need to (I don't beleive this) or he is some Chinese cyber-bandit, giggling behind his monitor as he pushes market higher and higher, safe in the knowledge that he is going to take a big dump (I am more inclined to believe this).

Indeed, Im was in far too good company of bears today on BTCe, those buy walla appeared one after the other... I dont believe in fake walls....this is a critical point..... Im warming up to the prospect of 'to da moon!'

I do believe in fake walls because I have seen them and been stung by them many times.

If this whale wants 3K Bitcoins at sub $600 prices, he is going the wrong way about it.......it is a manipulative bid....whether it is a benevolent or malevolent manipulation bid remains to be seen.

I just took a $500 USD hit on my short and am now long, chasing the momentum caused by 3K wall just like everyone else.

We well see how this transpires......keeping my eyes peeled on that mother fucker and his 3K stamp bid very closely.

it's a fact.... you cannot raise a buy wall of 3k coins without risking that another whale gobbles it up in one go. such a risk is counter intuitive considering 'fake' walls are a contrary indicator.

Most likely, this is a Bitcoin mega-whale, using his spending power to give Bitcoin the push that it needs.

The PSAR on the 4hr chart, a major and widely used indicator of whether to place net short or net long positions, has been pushed over into long territory. The 3K BTC is now also sitting firmly in the way of any selling pressure that may push Bitcoin back down below the $580 support, and below the long term resistance line.

I never believed in lower lows than $400, I did think with the level of overall negativity still in the market that we would need to revisit lower lows than $535, but it looks like there are forces at work very much intent on making a 530-400-535 inverse head n shoulders bottom.

Keeping my eyes peeled on that motherfucking 3K bid wall until we are well over 600.

A fat bid wall keeps appearing, 590 @ 2750 BTC right now.

Someone with a lot of BTC seems to trying to create a push

This surely all comes tumbling down in dramatic fashion once this guy gives up... like Mat says, keep an eye on his wall, most likely time to sell off again.

Oh right because the 20+ straight weeks down was NOT insane :/. What goes up must come down at some point.

Finally I can hear the train coming....

He keeps pushing and pushing though, and he was at least twice as much powder in the keg.

As he brought his bid up to spot, the order book doubled before he pulled his lower bid.

As more and more TA indicators signal long, more and more bot traders will kick into net long mode, and this thing could really blow up northwards.

Yes, it is manipulation, but arguably the whole of Bitcoin's meteoric price rise was manipulation. Hasn't stopped people paying treble and quadruple figures for vaporous lines of algorithmic code though, has it? Myself included.

The entire rise from $0.05 to $1250 was manipulation.

Im gonna leave this town.... gonna be a voodoo child... gonna be a magic boy

come back and buy this town, yeah, and put it all in my shoe...... thats what Im gonna do.

and if you make love to me one more time girl, I might give a piece - to you!

I hear my train a comin!

good time baby good time baby!

Aaand it's gone...

Onkel Paul

oops seems like he only adjusted it...

Decent sized sell wall ahead of it now, going to get interesting

Edit - he ate the sell wall!

He keeps moving it up to spot, and absorbing selling pressure, but more critically, triggering panic buying to jump in before him.........from his strategy, I think this is a ramp other than a pump n dump.

If this holds that will be a clear inverse head n shoulders at 530-400-530.

BTC could really take off from here.

What's the easiest way to keep an eye on his wall? Just have to keep refreshing the stamp order book page?

panic buying.... you could call it that. but what a bloody good price to panic buy at!


aaaannndd there goes 600 at stamp........

http://bitcoinwisdom.com/markets/bitstamp/btcusd

you're welcome ;)

He can't move the market for long only has little powder left.

i look at walls on http://bitcointicker.co/

Technicals aside, some good regulatory news from the UK might finally be improving sentiment.

London looking to be a frontrunner in Bitcoin would be awesome news... it'll be interesting to see what happens now, hopefully startups can blossom at least with the VAT news.

Think of the amount of traders and trading robots that base their decisions on specific 4hr technical indicators.

His price ramping has now triggered the most important of these into net long territory. If Bitcoin can hold above the resistance points that it just broke, through, then sentiment can swing to full on bullish form here.

He keeps pushing his Bid up to spot and he has at least twice as much powder in keg (another 3 million USD) if he wants. I have seen the Bid wall double on Stamp momentarily as he pushes up his Bid wall, before taking away lower bid.

Its fake wall,  fake pump, the same as gox.

Well, he ended up getting all the coins he wanted.

Wall vanished

I sold!

Bitcoin nose dived

LOL

Got out of that one with tidy profit!

Hmmm, made a decent profit on the small outlay, but don't think I'll bother doing shit like that again. Think I'm just going to sit in fiat until it looks like we have a genuine reversal, far less stressful!

Got instant 15% profit from that LTC dump  ;D ;D ;D
Too many whales keeping BTC price up... So I moved to LTC... hahaha  ;D

Excellent news. I bet some Russians are buying today too,  as well as USD.

Hey...it's easy money for sitting watch action with finger over trigger button. If some whales wants to lose money ramping Bitcoin that is their prerogative.

Now lets see if long term down trend reversal support holds at $580.....he has another 3 million USD in keg...lets see if he is going to use that to create a school-boy TA101 trend reversal confirmation.

Some bigger buying but $600 still feels like a barrier

https://www.tradingview.com/x/FDkmJ7B2/


1.box =lateral movement since beginning 2014
2.box =bullish flag
3.box =since 2013 accelerated upwards trend(secondary trend)
4.box=High April 2013 as resistance, now strong support
5.box=upwards trend since 2011(primary trend)

Edit:it`s a flag not a pennant (wrong Translation)

Another big one off ramp just there.

That means that Bitcoin has taken out the long term trend line, and now confirmed as a support!

This came right at a point when the 60 and 30 min PSAR indicators had switched over to short signal, and then boom

Quick, Pile in before we miss out on a lot of cheap coins!?

Not so fast. I am no longer bearish in terms of believing in a bottom lower than $400, but even a measly $500 bottom is a long way down from here. Whilst things may look very bullish on paper, this has all been manipulated by timely whale interventions. Whether to go long right now or not is whether you believe the will of these whales is either stronger than, or reflects that of the rest of the market.

Will wait and see if we can get beyond 610.

If we can do that, I might start to be impressed.

EDIT: These ramps have occurred during good eastern european office hours...

....perhaps they weren't rampers at all, but impatient money movers in Ukraine trying to get finance shifted around..!?

Likely a combination of things given the news today. Expecting quite a dip after the spike, though - what about you?

Might be a post spike dip. Might go lower than my panic buy at $618, but I don't care. This upsurge turns all bearish arguments and technicals on their head.

But that is me now 100% bullish long term.

Have been saying for days that I just haven't been getting the same fear of Bitcoin that I previously had and have actually been feeling positive about for the first time in a damn long time. Still, the intellectual doubts lingered that we must surely retest the $400 range before the bottom can be confirmed.....but it don't look like it is going to happen.

I am now 100% Bull at least for the short-medium term.

P.S What news?

England announced it won't tax btc. Can I ask prob a dumb question? what are you looking at that is telling you there is a whale with 3 mil and please explain how you know how much powder he has at any time?

UK tax situation, plus Ukraine, possibly. Apparently the Bitcoin Foundation is considering relocating to London. That in itself isn't directly relevant, but it suddenly shows renewed optimism about bitcoin after the Gox fiasco. It's a good news story after a run of crap.

I was expecting quite a bit lower than $618, too, if only briefly.

Dat price jump.

There it is...

Dat's right bitchez! :P

http://www.sierrachart.com/image.php?l=1393863064166.png

700 @Bitstamp right now... o_O

I think,
Fake price, fake buy, fake wall
Everything is the same as the MtGox, thereafter Bitstamp will disappear !
History repeats itself

How I feel trading this whale dominated Bitcoin market:

https://www.youtube.com/watch?v=O0qMT2YBIcg

See the "sheeple" in whales's mouth.  ;D

@igorr
иди пивкa пoпeй, paccлaбьcя)  :)