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Question: When will we see a new ATH?
2023 - 56 (21.8%)
2024 - 102 (39.7%)
2025 - 74 (28.8%)
2026 - 4 (1.6%)
2027 - 2 (0.8%)
After 2027 - 5 (1.9%)
Never - 14 (5.4%)
Total Voters: 257

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26115932 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. (170 posts by 5 users with 9 merit deleted.)
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May 05, 2013, 04:24:49 AM
 #4341

When will the shit finally hit?

http://www.youtube.com/watch?v=bZI1eeV88lQ#t=0m42s
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this statement is false


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May 05, 2013, 04:25:46 AM
 #4342


bearish wedge coming to a close right now. midnight dump?
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May 05, 2013, 04:25:47 AM
 #4343

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
 #4344


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
 #4345


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
 #4346

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
 #4347


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
 #4348


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
 #4349

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

4-hour scale:

-===-

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May 05, 2013, 05:03:11 AM
 #4350

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
 #4351

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
 #4352

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
 #4353

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
 #4354

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
 #4355

That was an interesting dump.
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May 05, 2013, 07:04:18 AM
 #4356

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
 #4357

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
 #4358

Just saw 1200btc sold in one order on bitcoinity
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May 05, 2013, 07:21:09 AM
 #4359

Lag attack.
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May 05, 2013, 07:23:17 AM
 #4360

Yup, without any transactions someone is trying to maintain at least a 1 min lag.
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