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

[oda.krell]

Serious question, for a second:

Does anybody know how much of Bitfinex' volume (on average) is routed to Bitstamp?

Bitstamp's API returns total volume (i.e. their own volume + orders from Bitfinex). Bitfinex' API doesn't distinguish between orders executed "internally" and "externally" either, to my knowledge.

The result is, we can't say for sure how much of the volume on stamp on finex is a duplicate... Can anyone who trades a lot on finex shine some light on this? Maybe you know how much, approximately, is routed to stamp, so we can at least guess how much stamp's volume has to be discounted.

Zero. They decoupled months ago.

Thanks. Also to dreamspark,  F-bernanke.

So the situation changed drastically over the last year, huh? Last time I used finex, they were still routing 50+% to stamp, but that was a year ago or so I admit.

Interesting development. In the past months, I tended to always discount USD volume in my calculations/speculations by, say, 25% because I assumed some of it was reported twice, but maybe that was a mistake.

[TERA]

I am curious as to why Huobi is still doing this high volume.  It is comparible to the volume of the rally in April - maybe 20% less. Now this is after caixin news, after all of these bank account deposit options being shut down, and after leveraged trading supposedly being shut down - and nothing has changed with the volume.

[gizmoh]

Panic buying on Finex. Margined leveraged panic buying. Bad combination. Leverage money can't lead a market for long.

Not much leveraged in this  run..

[ihaveaquestion]

I am curious as to why Huobi is still doing this high volume.  It is comparible to the volume of the rally in April - maybe 20% less. Now this is after caixin news, after all of these bank account deposit options being shut down, and after leveraged trading supposedly being shut down - and nothing has changed with the volume.

Maybe because there has always been a very little part of the volume which was real?

[ShroomsKit]

Thanks for adding another wall, dipshit.

[windjc]

Panic buying on Finex. Margined leveraged panic buying. Bad combination. Leverage money can't lead a market for long.

Not much leveraged in this  run..

Is this is false breakout? Something doesn't feel right.

[Davyd05]

Thanks for adding another wall, dipshit.

walls are good, they get eaten in bull markets

[ShroomsKit]

Back to 570 for another week. Yawn.

[MoreFun]

FYI, there was only 220 BTC sold over $620 at BFX and 450 BTC over $610.

[dreamspark]

Panic buying on Finex. Margined leveraged panic buying. Bad combination. Leverage money can't lead a market for long.

Not much leveraged in this  run..

Is this is false breakout? Something doesn't feel right.

Its weird. Plus the way Finex fucked off leads me to believe that they aren't completely decoupled. That used to happen when Finex' Stamp wallet ran dry.

[windjc]

FYI, there was only 220 BTC sold over $620 at BFX and 450 BTC over $610.

This doesn't feel right to me.

[TERA]

Thanks for adding another wall, dipshit.

Do you really think that affects anything in the long run?  Do you think that traders, bots, miners, and merchants should all get in a conspiracy to stop placing orders and if they do so we will be able to reach and sustain $10,000 in a week?

[MoreFun]

FYI, there was only 220 BTC sold over $620 at BFX and 450 BTC over $610.

This doesn't feel right to me.

Why? Data are data...

[windjc]

FYI, there was only 220 BTC sold over $620 at BFX and 450 BTC over $610.

This doesn't feel right to me.

Why? Data are data...

Finex shooting up to 630 while Stamp is at 590. It feels like panic buying on Finex. Which means that the market could have over extended itself going to 630. Which happens to be in an area of major resistance.

[N12]

Ok back to 590. Another failed attempted. People go omg almost 600 must sell because otherwise it will go over 600 and i will make more money.

600 will fall.

Thanks for adding another wall, dipshit.

Back to 570 for another week. Yawn.

For all who suffer this kind of affliction, recommended cure is to 1) increase candle timeframe, expand x axis and if this fails, 2) step away from the charts entirely and do something you enjoy.

It continues to amaze me how people can let the charts control themselves in such a way that not only do they watch them permanently, not only do they have zero trading plan that this would aid or require, but they actually get angry at things that are often a mere fluctuation/noise.

[oda.krell]

Thanks for adding another wall, dipshit.

walls are good, they get eaten in bull markets

I've been too optimistic before (2 days ago or so I expected 600 would fall within 12 hours), but that wall looks especially feeble to me. 2k coins to 600... if nibbled at, I see it vanish as quick as it appeared.

[Miz4r]

Ok back to 590. Another failed attempted. People go omg almost 600 must sell because otherwise it will go over 600 and i will make more money.

600 will fall.

Thanks for adding another wall, dipshit.

Back to 570 for another week. Yawn.

For all who suffer this kind of affliction, recommended cure is to 1) increase candle timeframe, expand x axis and if this fails, 2) step away from the charts entirely and do something you enjoy.

It continues to amaze me how people can let the charts control themselves in such a way that not only do they watch them permanently, not only do they have zero trading plan that this would aid or require, but they actually get angry at things that are often a mere fluctuation/noise.

Don't bother Shroomskit never learns, he always cracks me up.

[oda.krell]

Serious question, for a second:

Does anybody know how much of Bitfinex' volume (on average) is routed to Bitstamp?

Bitstamp's API returns total volume (i.e. their own volume + orders from Bitfinex). Bitfinex' API doesn't distinguish between orders executed "internally" and "externally" either, to my knowledge.

The result is, we can't say for sure how much of the volume on stamp on finex is a duplicate... Can anyone who trades a lot on finex shine some light on this? Maybe you know how much, approximately, is routed to stamp, so we can at least guess how much stamp's volume has to be discounted.

Zero. They decoupled months ago.

Thanks. Also to dreamspark,  F-bernanke.

So the situation changed drastically over the last year, huh? Last time I used finex, they were still routing 50+% to stamp, but that was a year ago or so I admit.

Interesting development. In the past months, I tended to always discount USD volume in my calculations/speculations by, say, 25% because I assumed some of it was reported twice, but maybe that was a mistake.

Coming back to this topic....

Quote from the finex thread:

Wow, spike time! My stop-loss for a short got filled 40 USD (!) above the stop-price I set. Damn. Any suggestions as to how I can make it safer? Is there really nothing that can be done on your side to make the stops work better?  I understand the mechanisms when a big market buy happens, so I guess there's little you can do about it...

Apparently also the Bitstamp USD reserve has been exhausted again. The spike would've been at least 20 lower if this hadn't happened. Which brings us back to the same issues we had in the November rally. Now that you changed the order book integration of Bitstamp we don't have any way of seeing when this happens, the order book just suddenly becomes thinner. Is there any way you could indicate to the users when this is about to happen? Please go back and consider possible solutions.

I understand that you have to minimize the risk of leaving funds on stamp, but when they go to zero, it's usually us traders who have to take the cost for it...

You sure they are 100% decoupled?

[DaRude]

We're above 590 and there are still 2k+ coins to 600. Half way mark to ATH just doesnt want to go down

[dreamspark]

You sure they are 100% decoupled?

See my post above, I kinda changed my mind and said these spike remind me of when the Finex Stamp wallet runs dry.