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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21330870 times)
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micalith
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May 05, 2013, 04:12:56 AM
 #4341

Is it just me or does the wall at $120 seem is way too small to not get trivially chomped by whomever kicked the price up to where it is now?
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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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May 05, 2013, 04:23:25 AM
 #4342

I suspect rpietila could be Mads Brügger.
"
Mads Brügger (1972) is a Danish journalist, TV-host, author and filmmaker. He has written several books, worked for magazines and newspapers, produced award winning radio programmes and hosted the critically acclaimed late night TV-programme The 11th hour as well as the daily news/debate programme Deadline. Furthermore, he has created satirical docu-series as Danes for Bush (2004) and the feature-length documentary, The Red Chapel (winner at Nordisk Panorama 2009 & Sundance 2010). Brügger is reknown for his distinctive methods of “performative journalism” as he infiltrates various milieus."

Goat be careful if he wants to film you transfering the BTC's in public.



if there was a btc movie, that would be pretty awesome for btc.


Funny coincidence, saw both of his movies (Red Chapel, Ambassador) last month.
There is some simliarity to the photo.
But I don't know if a movie by Mads Brügge about Bitcoin would be that awesome.
In Ambassador he has proven that you can get diplomatic status and smuggle blood diamonds out of an african country if you have enough cash and pretentious appearance.
In Red Chapel he pretended to be a communist theater director from denmark and went with two southkoreans (one of them handicapped) to NorthKorea to enact a play. (really interesting insight and social stuy of northkorea)

His satirical approach in his documentaries would defintively do more damage to the adaptation of bitcoin. Kinda like artmarket unmasking "exit through the giftshop" mockumentary by london streetartist banksy or performances by the Yes Men.

I'm sure it's not that difficult to find a lot of people in bitcoin community to do a satirical mockumentary thinking of some comments on the forum Smiley
Otherwise Mads Brügge seemed to me to be a higly intelligent person that would get the idea behind bitcoin after doing some research, so perhaps he would show both sides of the coin.

But let's see...absolute speculation based on a single photograph.

@rpietila:
If you are Mads Brügge...call me a fan and I surely would like to have contact because i have many ideas for some sick areas in the world that need such a style of dismantling roleplay-documentaries.
 
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May 05, 2013, 04:24:49 AM
 #4343

When will the shit finally hit?

http://www.youtube.com/watch?v=bZI1eeV88lQ#t=0m42s
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May 05, 2013, 04:25:46 AM
 #4344


bearish wedge coming to a close right now. midnight dump?
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May 05, 2013, 04:25:47 AM
 #4345

rpietila is from Finland, it's close but it's still not Denmark  Grin
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May 05, 2013, 04:33:53 AM
 #4346


To me, the shallowness of the slope on the "bid" side tells me that the market is headed downward soon. As bitcoins are bought and sold regularly, the fact that the "ask" side is so much higher than the "bid" side means that it is going to take more trading to move is up. The gap will always close, and more than likely both sides will move equally, basically, so the price will move down... Is my thinking generally correct?

TL;DR- Am I correct in thinking that if the slope of the ask side is > bid side then the market is generally headed downward and vice versa?

On the way down, the bid side was pretty steep. I think that's a side-effect of it getting eaten into.
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May 05, 2013, 04:36:30 AM
 #4347


To me, the shallowness of the slope on the "bid" side tells me that the market is headed downward soon. As bitcoins are bought and sold regularly, the fact that the "ask" side is so much higher than the "bid" side means that it is going to take more trading to move is up. The gap will always close, and more than likely both sides will move equally, basically, so the price will move down... Is my thinking generally correct?

TL;DR- Am I correct in thinking that if the slope of the ask side is > bid side then the market is generally headed downward and vice versa?

On the way down, the bid side was pretty steep. I think that's a side-effect of it getting eaten into.

+1

Though I don't think we have the volume to eat 120 anyway so we'll probably see it drop either way.
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May 05, 2013, 04:37:31 AM
 #4348

bearish wedge coming to a close right now. midnight dump?

Uh? Where?

What time period are you looking at?


Also, this. is. the. INTERNET!
Midnight is meaningless! (Unless you meant UTC  Wink)
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May 05, 2013, 04:39:01 AM
 #4349


bearish wedge coming to a close right now. midnight dump?

Wedge at what scale? I can't find it
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May 05, 2013, 04:50:00 AM
 #4350


bearish wedge coming to a close right now. midnight dump?

Wedge at what scale? I can't find it

5 min chart.  Wink

Not a rigid one IMHO
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May 05, 2013, 05:01:26 AM
 #4351

bearish wedge coming to a close right now. midnight dump?

4-hour scale:

-===-

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May 05, 2013, 05:03:11 AM
 #4352

Why would you call this bearish? The last wedge with a similar shape from 80 to 100 has been proven as bullish


bearish wedge coming to a close right now. midnight dump?

4-hour scale:

-===-



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May 05, 2013, 05:09:23 AM
 #4353

Why would you call this bearish? The last wedge with a similar shape from 80 to 100 has been proven as bullish


bearish wedge coming to a close right now. midnight dump?

4-hour scale:

-===-



wedges are usually reversal signals, the last wedge was an exception. i tend to try to identify the patterns and then use other data to determine the directionality. William's Oscillator suggests short-term overbought, poising for a slight correction:

-===-

10-day hourly scale



-===-

also, depth on bitcoinity has a bearish bias.
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May 05, 2013, 05:11:20 AM
 #4354

bearish wedge coming to a close right now. midnight dump?

4-hour scale:

-===-



Dude, thats not how wedges work -.-
No steady downtrend of volume and the slope of the center of the opening to the point is basically a trend line.

Honestly, at this point people are just drawing lines in places.
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May 05, 2013, 05:37:34 AM
 #4355

No steady downtrend of volume and the slope of the center of the opening to the point is basically a trend line.

the volume pattern is there, and how does the second point invalidate the wedge?
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May 05, 2013, 06:19:02 AM
 #4356

Well... $115 was a previous resistance on May 2 and all day today (-7utc). We've broken through it, but not with much force. I can't see it holding, and for my own sake i hope it doesn't until a revisit on monday or tuesday!

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May 05, 2013, 06:47:03 AM
 #4357

That was an interesting dump.
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May 05, 2013, 07:04:18 AM
 #4358

That was an interesting dump.

still going it seems

a seller dumped... and a buyer saw "cheap coins" and pushed the "market buy" button.
Or... or... one was trying to induce a panic sell and one was trying to stop it.

Even in a boring Sunday there are at least two people with a spare half million USD to burn.
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May 05, 2013, 07:18:19 AM
 #4359

1000 BTC wall at 111 was moved up to 111.0001
170 BTC wall at 11.5 removed and reappeared behind the 1000BTC one at 111

I'd love to understand what game are these pro's playing.  Huh
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May 05, 2013, 07:19:26 AM
 #4360

Just saw 1200btc sold in one order on bitcoinity
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