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

[KS]

Are we going to see new rise soon?

Zoom out a bit and it looks like 2012, "back to normal".

[lucas.sev]

Also, this:

[Rampion]

Looks like we are going up and in more than one way (TA, bid/sum, etc.)

And something to think about, as Mining is getting bigger and bigger (bigger money, players, etc.) one has to consider that the miners (companies?) will and should also invest into BTC. Yeah, that sounds odd,
mining coins and not selling them and yet buying coins. But big money has to support itself IF people do not. Not saying that will happen, but it happens in many business models, in the sense like look at Amazon, how they sold books at little to no profit to get things rolling.

100% agreed my friend, many indicators say we are going up, only uncertain factor is the distortion of the price cause by Gox problems with withdrawals.

Glad I bought back at 101.9x 30% of what I sold at $129, now wondering in which spot to place the next bid...  $105ish?

Thinks are getting interesting nevertheless.

[BitcoinAshley]

Also, this:

More likely at this point. I'm being cautious about this recent price movement.

[ChartBuddy]

[Walsoraj]

any graph that does not include a pic of the moon, and oort cloud, is false.

[Its About Sharing]

Looks like we are going up and in more than one way (TA, bid/sum, etc.)

And something to think about, as Mining is getting bigger and bigger (bigger money, players, etc.) one has to consider that the miners (companies?) will and should also invest into BTC. Yeah, that sounds odd,
mining coins and not selling them and yet buying coins. But big money has to support itself IF people do not. Not saying that will happen, but it happens in many business models, in the sense like look at Amazon, how they sold books at little to no profit to get things rolling.

100% agreed my friend, many indicators say we are going up, only uncertain factor is the distortion of the price cause by Gox problems with withdrawals.

Glad I bought back at 101.9x 30% of what I sold at $129, now wondering in which spot to place the next bid...  $105ish?

Thinks are getting interesting nevertheless.

Welcome back!

It looks like we have some support at 111. Using Gann, I'm seeing a move to 120-130 or so. Right about then it looks like a rising wedge might be completed, but I'm not convinced of it as this move looks strong (and some big pocketed players like to "create" patterns imo). You can see my Gann chart below. You really have to follow it to see where things end up. Last target, if we don't break down at that double red ring, would be the outer double red ring range. Both charts are working nicely so far.

For what it is worth, 105 is too close to my entry point and support on the 4hr, I'd be careful there. Not saying don't do it, and you are a good trader so would know when we get there, but with Gann, my stop loss is basically where the chart starts and that is within $1 of it.

Daily - https://www.tradingview.com/e/2Rh6HJ0Q/

4 hr - https://www.tradingview.com/e/xLPCriqP/#

[ChartBuddy]

[ChartBuddy]

[ChartBuddy]

[ChartBuddy]

[byronbb]

dat ratio





 

[ChartBuddy]

[ChartBuddy]

[ChartBuddy]

[lucas.sev]

Serious question: why ratio is important?

If someone puts 10m into orderbook on bid side at 90usd what difference does it make? There are no money deposits coming into mtgox so it does not mean that there is money flowing into mtgox, so what is its significance?

[byronbb]

Serious question: why ratio is important?

If someone puts 10m into orderbook on bid side at 90usd what difference does it make? There are no money deposits coming into mtgox so it does not mean that there is money flowing into mtgox, so what is its significance?

That's an assumption. It is possible big market makers can get money on and off gox. Are JPY banking issues a problem in country? Because if not, a big player would just move money to Japan, perhaps start a small company there, and continue to buy and sell as usual. Why is plus500 still dealing their CDFs at gox prices if they could not hedge on/off without getting $ stuck there? Never underestimate the resources of people with millions of dollars.

That said, I think the order book ratio is skewed too high, as huge bids at $10 are rather irrelevant.

[Walsoraj]

Serious question: why ratio is important?

If someone puts 10m into orderbook on bid side at 90usd what difference does it make? There are no money deposits coming into mtgox so it does not mean that there is money flowing into mtgox, so what is its significance?

Increased depth boosts confidence, dummy. i.e., less fear of flash crash b/c has to eat through a mountain of bids.

I know, b/c most of it belongs to the winklevii and I. We keep detailed stats and have been TA'ing the shit out of it for months.

Gotta protect our investment

[ChartBuddy]

[adamstgBit]

+1 nice ask wall... finally