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Question: 1/17 Closing Price:
<$33,000 - 4 (5.3%)
$33,000-$34,000 - 1 (1.3%)
$34,000-$35,000 - 2 (2.6%)
$35,000-$36,000 - 1 (1.3%)
$36,000-$37,000 - 3 (3.9%)
$37,000-$38,000 - 7 (9.2%)
$38,000-$39,000 - 4 (5.3%)
$39,000-$40,000 - 9 (11.8%)
$40,000-$41,000 - 8 (10.5%)
$41,000-$42,000 - 6 (7.9%)
$42,000-$43,000 - 4 (5.3%)
>$43,000 - 27 (35.5%)
Total Voters: 76

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25065361 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
seleme
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May 23, 2014, 02:23:07 AM

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

lol......so a good exit strategy is to quell a rally ready to run?

Mind boggling, isn't it?  Grin
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derpinheimer
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May 23, 2014, 02:23:33 AM

Someone is trying really hard to stop the price from climbing, I mean a 1400BTC sell wall, why would you sell at $550 when there's a rally going on?

It's a good exit strategy. Not sure how long this rally will last. He's not trying to catch the peak

He doesn't want to sell at $550, he wants to buy all the coins other people put below his wall.

I'm not even watching the chart. Did he actually sell his 1400 coins? Or he just put the wall up, let me check

He sold ~250, the remaining ~1400 was pulled.

I do agree its a good exit strategy, but if his intent was to exit safely I dont see why they would have pulled the wall at $530.
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May 23, 2014, 02:29:21 AM

so the guy with the wall is trying to keep the price artificially low so he can buy peoples coins?
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May 23, 2014, 02:32:00 AM

Fucking finally made some money after weeks of not trading/bad trades.

2500$ on LTC today  Grin

nice !
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May 23, 2014, 02:32:45 AM

Fucking finally made some money after weeks of not trading/bad trades.

2500$ on LTC today  Grin

nice !

I lost 14 BTC on Ripple though  Grin
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May 23, 2014, 02:32:59 AM

Now the sell wall at 550 is 2551BTC, that's 1.4 million dollars, come on...
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May 23, 2014, 02:33:28 AM

Now the sell wall at 550 is 2551BTC, that's 1.4 million dollars, come on...

1.4m is nothing in BTC now.
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May 23, 2014, 02:36:25 AM

Now the sell wall at 550 is 2551BTC, that's 1.4 million dollars, come on...

Its BTC1,616 exactly on Bitstamp
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May 23, 2014, 02:39:10 AM

Now the sell wall at 550 is 2551BTC, that's 1.4 million dollars, come on...

Its BTC1,616 exactly on Bitstamp

2K+ on finex @ 552
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May 23, 2014, 02:41:11 AM

Now the sell wall at 550 is 2551BTC, that's 1.4 million dollars, come on...

Its BTC1,616 exactly on Bitstamp

Well yeah, I was watching the gap between 545 and 550 on bitcoinwisdom, it's not as accurate as looking at the orderbook directly, there is another order of 300btc at 475 and a few smaller ones.
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May 23, 2014, 02:44:39 AM

Same wall that moved from 510 to 530 when it got nibbled, now at 550, keeps growing, never gets eaten.  Now they are doubling down on walliness with bfx shorts.  Getting more and more scared, I say.
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May 23, 2014, 02:49:21 AM

this market is just plain nuts

and I love it
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May 23, 2014, 02:49:56 AM

Doesn't matter. It is going to crash HARD in the next 72 hours. I wish there was a way to short it.

I did expect it to drop, but have no reason to think it will not make a higher low in that time.  What do you see?  The fundamental picture is that Evan is pumping it with promises of incorporating cryptonote tech, and his masternode scheme (which centralizes the network, btw, so I consider it anathema) requires 1000 drk to buy in, so all the drk fans (and there are loads of trolls among that order) are compelled to double-down, to secure their 1000 drk elite status, so they get nominal title to an amazon VPS masternode.
Since I have no way of knowing how long he can flog that horse before it dies, I can't tell whether the zigzag ratchet will turn again for 1, 2, 3 iterations.   I would buy volatility on drk if there were options.  Not sure I'd want to naked short until the ratchet was proven to be broken.
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May 23, 2014, 02:50:05 AM

Where is that ripple shill troll at now?
y3804
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May 23, 2014, 02:51:09 AM

Where is that ripple shill troll at now?

Don't hate.

Also, I see patterns on the 5 min chart:

https://i.imgur.com/Ca8tyu2.png
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May 23, 2014, 02:58:34 AM

I don't see a fundamental basis for the technical rally. Cumulative good news in the West and a lack of bad news in China do not appear to be an adequate explanation. This was mostly just seller exhaustion which is not the same thing as a sustained increase in demand. What has happened to make BTC appear more valuable?

What needs to happen for me to feel comfortable that a prolonged bull market is underway is for some new application or applications to be deployed that offer some new benefit. With all of the potential, I'm actually surprised we haven't seen more code development translate into usable applications. What I would most like to see are more and better title tracking tools in the block chain.

On the political side, the East/West divide is growing over Ukraine, the pipeline deal between China and Russia, and currency wars. This is starting to look like Cold War II and if the Eastern powers see Bitcoin as a primarily Western phenomenon, then an eventual banning of BTC-e and Chinese exchanges will be likely. Ironically, Bitcoin would be a powerful tool to break the iron grip of Western Banksters over the world economy, but up until now I see no indications that the Eastern Powers recognize it as such.

I still have my trade account close to 100% fiat and I'm painfully aware of the possibility that I'm missing the train. My consolation is that the vast majority of my holdings are in cold storage. I'm still an ultrabull, but obviously not a permabull anymore because there remains substantial risk that we are not out of the woods yet. China needs to become not just less relevant but functionally irrelevant if a technical or political solution to PBoC hostility is not found. Bulls should find comfort that I and those like me still have lots of fiat on the exchanges to provide support if the rally falters.

Using the exchanges as the actual pricing mechanism is probably insufficient. Lage buyers were probably going OTC and shorting like hell at bitfinex. Ie keep the exchange price low, while buying from private sellers.

That would still leave all sorts of questions. Are these new buyers or old hodlers increasing their positions? Who's buying and why and how deep are their pockets? Best case scenario is that tech millionaires are building large positions to be in a position to take maximum advantage of the increase in value that will occur when their new software/tech companies build and deploy new products. If that is happening or even being rumored to be happening, I'd love to know about it.

Again I was disappointed that Circle so far is just another version of Coinbase. Good that there is competition, but I want to see that killer app that is out there. The code development that I see is tiny and disappointing compared to the potential.
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May 23, 2014, 02:59:19 AM

this market is just plain nuts

and I love it

/\BTC to 10K easy some say higher!!  Cool gogogoo BTC
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May 23, 2014, 03:00:16 AM

Where is that ripple shill troll at now?

Don't hate.

Also, I see patterns on the 5 min chart:

https://i.imgur.com/Ca8tyu2.png

how could you not though...Mah use to say two things ripple..and buy. I am sad that in theory, if he really did take his own advice, he has been burnt by it
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May 23, 2014, 03:00:38 AM


Explanation
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May 23, 2014, 03:06:27 AM

Oh fuck. Here it begins. News released on Caixin 10 minutes ago, no drop yet;

http://finance.caixin.com/2014-05-23/100681276.html

To make things clear, this is not a Bitcoin exchange, but it is similar
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