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

[NewLiberty]

So does a steeper incline mean more bids/asks?
 
Is this image bullish because it shows huge support or bearish because it shows huge resistance? I am used to level 2 bid/ask with stock trading just never seen a bid depth like the one posted...

You have to take the image in context. It's a bit steep on the asks at the moment. If the price has just moved, that can mean different things. At the moment, it just means there's some resistance. But many bids get moved so it doesn't necessarily mean much overall.

It's fairly boring when things are static but when things start moving, you get to see a bit of the battle that's being played out. Bidwalls being eaten for breakfast, struggles, dumps, upsets, blood, sweat, tears, urine...

When both sides deepen as they have recently, it usually means there's a fight brewing.

Yes, when on the move, the side with the steeper wall tends to be the direction of movement.

[hdbuck]

wearing my short term bear suit back now for couple weeks.
http://buzzfil.com/article/113/c-mignon/32-ours-super-marrants-qui-se-comportent-comme-des-humains-2.html

[derpinheimer]

So does a steeper incline mean more bids/asks?
 
Is this image bullish because it shows huge support or bearish because it shows huge resistance? I am used to level 2 bid/ask with stock trading just never seen a bid depth like the one posted...

You have to take the image in context. It's a bit steep on the asks at the moment. If the price has just moved, that can mean different things. At the moment, it just means there's some resistance. But many bids get moved so it doesn't necessarily mean much overall.

It's fairly boring when things are static but when things start moving, you get to see a bit of the battle that's being played out. Bidwalls being eaten for breakfast, struggles, dumps, upsets, blood, sweat, tears, urine...

When both sides deepen as they have recently, it usually means there's a fight brewing.

Yes, when on the move, the side with the steeper wall tends to be the direction of movement.

Other way around. Even moving, it is generally towards the side with a steeper incline. (More asks/bids)


Edit: looks like that was what you said..maybe? Disregard then

[NewLiberty]

just sayin...

DUH!

wtf did you think was gonna happen?

The Fed was chartered in 1913, arguably it wasn't the reserve currency for a while, and also arguably IMF SDRs should have their time in there, but is really just a basket of other national fiats currently.

And up until the last half century, each of these was merely a proxy for gold.

But... other than that yeah baby, CCMF

[NewLiberty]

So does a steeper incline mean more bids/asks?
 
Is this image bullish because it shows huge support or bearish because it shows huge resistance? I am used to level 2 bid/ask with stock trading just never seen a bid depth like the one posted...

You have to take the image in context. It's a bit steep on the asks at the moment. If the price has just moved, that can mean different things. At the moment, it just means there's some resistance. But many bids get moved so it doesn't necessarily mean much overall.

It's fairly boring when things are static but when things start moving, you get to see a bit of the battle that's being played out. Bidwalls being eaten for breakfast, struggles, dumps, upsets, blood, sweat, tears, urine...

When both sides deepen as they have recently, it usually means there's a fight brewing.

Yes, when on the move, the side with the steeper wall tends to be the direction of movement.

Other way around. Even moving, it is generally towards the side with a steeper incline. (More asks/bids)


Edit: looks like that was what you said..maybe? Disregard then

Yes, thank you for restating it.  Price tends to move toward the steeper wall as it takes time for the orders to fill in behind the movement.

[shmadz]

ECB -> announced negative rates and market expecting QE to be announced in 20ish minutes. Get out of them Euro and into them BTC.

+1, did we just witness for one of the first time a macro-related move Yeah !

a major newssite called it the end of capitalism as we know it.

That's a load of sensationalistic journalism, there has been experiments with negative rates various places, though not on such a scale of course.

i don´t think this is sensationalistic journalism. it is the 5th year of the 2008 crisis and they have no other tool than this very last one. if it fails (and i think it will) what will they do next ?

Wealth Taxes and Savings Sequestration

side note:

has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time,

(part 1 as well, of course, and yes, I think part 1 was better, but part 2 seemed a little more "in your face" and Rearden's trial was epic)

[ChartBuddy]

Explanation

[derpinheimer]

So does a steeper incline mean more bids/asks?
 
Is this image bullish because it shows huge support or bearish because it shows huge resistance? I am used to level 2 bid/ask with stock trading just never seen a bid depth like the one posted...

You have to take the image in context. It's a bit steep on the asks at the moment. If the price has just moved, that can mean different things. At the moment, it just means there's some resistance. But many bids get moved so it doesn't necessarily mean much overall.

It's fairly boring when things are static but when things start moving, you get to see a bit of the battle that's being played out. Bidwalls being eaten for breakfast, struggles, dumps, upsets, blood, sweat, tears, urine...

When both sides deepen as they have recently, it usually means there's a fight brewing.

Yes, when on the move, the side with the steeper wall tends to be the direction of movement.

Other way around. Even moving, it is generally towards the side with a steeper incline. (More asks/bids)


Edit: looks like that was what you said..maybe? Disregard then

Yes, thank you for restating it.  Price tends to move toward the steeper wall as it takes time for the orders to fill in behind the movement.

Right, sorry - misread your post initially.

[hmmmstrange]

has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time,

(part 1 as well, of course, and yes, I think part 1 was better but part 2 seemed a little more "in your face" and Rearden's trial was epic)

Good news is you will only have to wait a couple months for part 3. Should be in theaters September.

[U.S. Treasury]

wearing my short term bear suit back now for couple weeks.
http://buzzfil.com/article/113/c-mignon/32-ours-super-marrants-qui-se-comportent-comme-des-humains-2.html

Short term? Boy, it's time to go long on USD. We're going to prove that in the coming days.

[alani123]

just sayin...

DUH!

wtf did you think was gonna happen?

Too soon.

No seriously though, saying that bitcoin will replace X in general sounds a bit dull to me.

[shmadz]

has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time,

(part 1 as well, of course, and yes, I think part 1 was better but part 2 seemed a little more "in your face" and Rearden's trial was epic)

Good news is you will only have to wait a couple months for part 3. Should be in theaters September.

bullish.

[Raystonn]

ECB -> announced negative rates and market expecting QE to be announced in 20ish minutes. Get out of them Euro and into them BTC.

+1, did we just witness for one of the first time a macro-related move Yeah !

a major newssite called it the end of capitalism as we know it.

That's a load of sensationalistic journalism, there has been experiments with negative rates various places, though not on such a scale of course.

i don´t think this is sensationalistic journalism. it is the 5th year of the 2008 crisis and they have no other tool than this very last one. if it fails (and i think it will) what will they do next ?

Wealth Taxes and Savings Sequestration

side note:

has anyone seen the Atlas Shrugged, part 2 movie yet? highly recommended. it's like watching a glimpse of the future while seeing it happen all around you in real time,

(part 1 as well, of course, and yes, I think part 1 was better, but part 2 seemed a little more "in your face" and Rearden's trial was epic)

Bitcoin is Galt's Gulch.

[nanobrain]

just sayin...

DUH!

wtf did you think was gonna happen?

So a global currency dominated by individuals such as Goat and Risto...a scary thought in some respects, don't you think?

[adamstgBit]

just sayin...

DUH!

wtf did you think was gonna happen?

So a global currency dominated by individuals such as Goat and Risto...a scary thought in some respects, don't you think?

Goat own a lambo LTC and silver

Risto got goxed and spent half his coins on a  castle

scary?

[adamstgBit]

everything is going according to plan poeple

the decentralization of world domination  is happening right here right now

[adamstgBit]

[Raystonn]

everything is going according to plan poeple

the decentralization of world domination  is happening right here right now

Quite right.  If Ayn Rand were to write Atlas Shrugged today, flight to Galt's Gulch would be replaced with flight to Bitcoin and distributed consensus by public ledger.

[JayJuanGee]

I found some archival material of Jorge performing some early research into the Chinese Slumber Method

Not long ago, @fonzie kindly posted a pic of me at the KyotoCGGT2007 conference banquet, but he cropped out an important detail:

To vulgar Illuminati, that may look like an ordinary maiko-san, but the Fluorescenti will surely recognize the Bitcoin Goddess in plainclothes.

You see, that very night the Gods had convened in Japan to decide what would be the appropriate punishment for Pokemon, Tamagotchi, and Hello Kitty.  Some wanted an army of Godzillas plus explosive meltdown of all nuclear reactors in the country, but in the end she convinced them to settle for just 3 and 1/2 meltdowns and a bitcoin exchange.  (I had no idea at the time of what bitcoin was, so I thought that it was quite generous of them.)

I honestly do not know what she was doing at the conference banquet.  Perhaps she is fond of old academics, for some reason.  I have noticed that the price of bitcoin always dips when an old prof gets insulted or is made fun of.  Like, right now.

Half of you is probably the most that any of us can take in any one sitting.....

And, your theory about the price going down seems far from founded.  The price has been floating between $620 and $680 for more than a week, and before that, we were in the 500s and 400s and 300s.  There are five weeks in a row of green weekly candles...   It seems that the prices could likely adjust downward for a week or two... but ultimately, even the better half of you probably realizes the direction of bitcoin prices.....   and that is.. UP.

Currently, I am thinking rocket could be delayed, but it is fairly certain to occur during 2014... likely prior to October, but NO surprise if it occurs earlier... just too much good news in bitcoin land, recently.

This current consolidation should NOT be hurting anything... and will likely make the upcoming surge to be more powerful, when it does take place.

[Blazin604]

What are your guys thoughts on NXT? I have been hearing a lot about it since it took 3rd... I think bitcoin in the future will be used for large payments and litecoin for smaller day to day transactions. nxt could also fit in there somewhere I think...what are your guys thoughts?