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Question: Sept. 21 Closing Price:
$0 - 3 (3.5%)
<$8,000 - 4 (4.7%)
$8,000-$8,500 - 1 (1.2%)
$8,500-$9,000 - 1 (1.2%)
$9,000-$9,500 - 2 (2.4%)
$9,500-$10,000 - 6 (7.1%)
$10,000-$10,500 - 16 (18.8%)
$10,500-$11,000 - 18 (21.2%)
$11,000-$11,500 - 17 (20%)
$11,500-$12,000 - 5 (5.9%)
>$12,000 - 7 (8.2%)
>$20,000 - 5 (5.9%)
Total Voters: 85

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21368542 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. (106 posts by 21 users deleted.)
MAbtc
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May 06, 2013, 05:25:14 PM
 #4841

Hourly shows 5 tests of 125 and 5 fails over 13 hours. I can't see a breakout any direction but down here.
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oda.krell
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May 06, 2013, 05:25:50 PM
 #4842

Perhaps the comparisons with bubble 1 will become stronger as this collapse continues. There are plenty of falsifiable predictions I could make, and the most interesting is whether $145 or $160 will be surpassed during the remainder of the collapse. Based on bubble 1, I think not.

Agreed. Like I said, I read your posts with a lot of interest, and if the next corrections do indeed point downwards, I'm inclined to agree with you. But for that to be the case we do not only need to stay below the previous highs, we also need to at least seriously retest towards 50 again. We will see.
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May 06, 2013, 05:27:01 PM
 #4843

Hourly shows 5 tests of 125 and 5 fails over 13 hours. I can't see a breakout any direction but down here.

When was 125 tested? We have not even reached 125 yet. The high is 124.9.

Plus we only got above 120 this GMT morning.
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May 06, 2013, 05:32:19 PM
 #4844

Beware: aprox. BTC15K just appeared on the order book. That could be a nice round of bullets for the bears, prepare your bids and fasten your seat belts.



Do you see the sudden drop in the Bid Sum from Monday? That was most likely wallzilla taking down his wall to buy coins. You see the sudden spike in the Ask Sum for today? That is likely wallzilla putting his new coins on the order book. He must have spread them out for profit taking instead of a huge sell wall that would likely take time to sell through. It DOES NOT mean he is going to take down all those orders he just placed and market dump. True bears will come out of nowhere and drop 15k coins.
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May 06, 2013, 05:39:02 PM
 #4845

So, you think the capitulation is over and we are on the way up?

Man, bulls turning bears and bears turning bulls, I'm really puzzled Wink

Have you ever seen a medium perform where they're saying they hear a voice, it's Susan, maybe Sarah. She's your mother, no grandmother, maybe a childhood friend?

Gotta be able to turn on a dime in the prediction business.



 Grin Houdini and Derren Brown would give you a knowing nod for that. So true.
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May 06, 2013, 05:40:48 PM
 #4846

Beware: aprox. BTC15K just appeared on the order book. That could be a nice round of bullets for the bears, prepare your bids and fasten your seat belts.



Do you see the sudden drop in the Bid Sum from Monday? That was most likely wallzilla taking down his wall to buy coins. You see the sudden spike in the Ask Sum for today? That is likely wallzilla putting his new coins on the order book. He must have spread them out for profit taking instead of a huge sell wall that would likely take time to sell through. It DOES NOT mean he is going to take down all those orders he just placed and market dump. True bears will come out of nowhere and drop 15k coins.

I didn't see the wallzilla buying $2M coins in market orders earlier today, sorry. That would have triggered quite of a rally. In fact, what I saw is a BTC2Kish dump just immediately after wallzilla removed his bids (you can see it on ask sum graph too).

IMO, we should be testing $100 soon.
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May 06, 2013, 05:41:21 PM
 #4847

Hourly shows 5 tests of 125 and 5 fails over 13 hours. I can't see a breakout any direction but down here.

When was 125 tested? We have not even reached 125 yet. The high is 124.9.

Plus we only got above 120 this GMT morning.

.1 USD is really insignificant here. This isn't some sort of predictive science.

We crossed 124.75 13 hours ago. We have fluctuated between 124.65 and 124.9 over four separate hours since then before falling back to 120/under. Yes, we couldn't even break 125. This repeated stagnation at the resistance from 120-125 = downward break, IMO.
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May 06, 2013, 05:51:28 PM
 #4848

Yawn, so low volume. Two bots flirting and some random guy buying half a bitcoin.
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May 06, 2013, 05:54:10 PM
 #4849

Ok, I need to do so groceries.

Everyone, stop trading!  Wink
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May 06, 2013, 06:00:41 PM
 #4850

Beware: aprox. BTC15K just appeared on the order book. That could be a nice round of bullets for the bears, prepare your bids and fasten your seat belts.

http://www.blockchained.com/depth_mtgox_15d.png

Do you see the sudden drop in the Bid Sum from Monday? That was most likely wallzilla taking down his wall to buy coins. You see the sudden spike in the Ask Sum for today? That is likely wallzilla putting his new coins on the order book. He must have spread them out for profit taking instead of a huge sell wall that would likely take time to sell through. It DOES NOT mean he is going to take down all those orders he just placed and market dump. True bears will come out of nowhere and drop 15k coins.

I didn't see the wallzilla buying $2M coins in market orders earlier today, sorry. That would have triggered quite of a rally. In fact, what I saw is a BTC2Kish dump just immediately after wallzilla removed his bids (you can see it on ask sum graph too).

IMO, we should be testing $100 soon.

You actually lose money market buying or market selling, compared to setting up a wall and waiting. Well, wallzilla was waiting on the crazy typical bear to come along over the weekend, and he didn't. So he took down his wall. That we know. What we don't know is what happened next with him. Did he just make small buy orders multiple times and now has all his coins on the sell side? That's what I think, and not some random bear adding 2 mil to the ask side to drive the price down. If he did what you said and just "gave up" and took down his wall, that is even more scary, to know that there is that much cash waiting off the books to ride this thing upwards. And if that is the case, then it's very bullish. Lets just say he sees the price go down to 110, where he had his wall, do you think he will just keep letting it fall? Close to 100 like you say? I doubt it, unless he is stupid, which makes me wonder where he got that cash from if he is that stupid. He would put up his wall again and get the coins he was looking for. But I think he has them already, even if he didn't get them until we got in the 120 range.

Wallzilla, if you are out there, put your wall back up, so we know what is going on. If he does, then it's obvious my opinion was wrong. If we keep moving up, something tells me he who has 2 million is smart enough to already be on the train.
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May 06, 2013, 06:01:41 PM
 #4851

Ok, I need to do so groceries.

Everyone, stop trading!  Wink

looks like they have stopped trading!
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May 06, 2013, 06:05:38 PM
 #4852

So funny to see people talking about the boogie man with his "WALL"....

 Grin
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May 06, 2013, 06:07:11 PM
 #4853

So funny to see people talking about the boogie man with his "WALL"....

 Grin

Am I in the wrong thread? This is the wall observer huh? Wink
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May 06, 2013, 06:07:26 PM
 #4854

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May 06, 2013, 06:10:21 PM
 #4855

Beware: aprox. BTC15K just appeared on the order book. That could be a nice round of bullets for the bears, prepare your bids and fasten your seat belts.

http://www.blockchained.com/depth_mtgox_15d.png

Do you see the sudden drop in the Bid Sum from Monday? That was most likely wallzilla taking down his wall to buy coins. You see the sudden spike in the Ask Sum for today? That is likely wallzilla putting his new coins on the order book. He must have spread them out for profit taking instead of a huge sell wall that would likely take time to sell through. It DOES NOT mean he is going to take down all those orders he just placed and market dump. True bears will come out of nowhere and drop 15k coins.

I didn't see the wallzilla buying $2M coins in market orders earlier today, sorry. That would have triggered quite of a rally. In fact, what I saw is a BTC2Kish dump just immediately after wallzilla removed his bids (you can see it on ask sum graph too).

IMO, we should be testing $100 soon.

You actually lose money market buying or market selling, compared to setting up a wall and waiting. Well, wallzilla was waiting on the crazy typical bear to come along over the weekend, and he didn't. So he took down his wall. That we know. What we don't know is what happened next with him. Did he just make small buy orders multiple times and now has all his coins on the sell side? That's what I think, and not some random bear adding 2 mil to the ask side to drive the price down. If he did what you said and just "gave up" and took down his wall, that is even more scary, to know that there is that much cash waiting off the books to ride this thing upwards. And if that is the case, then it's very bullish. Lets just say he sees the price go down to 110, where he had his wall, do you think he will just keep letting it fall? Close to 100 like you say? I doubt it, unless he is stupid, which makes me wonder where he got that cash from if he is that stupid. He would put up his wall again and get the coins he was looking for. But I think he has them already, even if he didn't get them until we got in the 120 range.

Wallzilla, if you are out there, put your wall back up, so we know what is going on. If he does, then it's obvious my opinion was wrong. If we keep moving up, something tells me he who has 2 million is smart enough to already be on the train.

Man, wake up. Wallzilla intention was to SELL, not to BUY. You don't place a $2M bid just $5 below spot in the real world, if your real intention is to buy. And you don't keep pushing it up, because a 10% of $2M is A LOT of money, for you, me and all the rich guys around. With that kind of wall you are only pushing the price up, everybody knows that - and no, the theory of the clueless guy who just received his lottery winnings on Gox (on a Sunday Wink) is just utter BS.

That's how the market works: you want to sell a big chunk and your loaded with fiat, you place a huge wall trying to push the price up and to create depth around your wall. You want to buy low and you have a lot of coins, you put a huge ASK wall to push the price down.

If you really want to buy $2M coins, you just place smaller bids all over a certain price range. Putting 10% of the total amount of fiat sitting on Gox in a single spot means only one thing: your real intention is to sell.
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May 06, 2013, 06:17:36 PM
 #4856

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May 06, 2013, 06:20:55 PM
 #4857

Rampion- I get that,  actually said that yesterday after he took his wall down, but the huge addition to the ask side just make the situation a little different since its pretty much the same amount and within one day... huge coincidence if its 2 different people.

Also, what does he do if he only has fiat? He could have made all that cash on the last bubble, and at the first sign of good news he wants back in. In that case, reread my last past about this.
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May 06, 2013, 06:24:35 PM
 #4858

What's the deal with all the 0.0123 sales today? I've seen that number spammed a lot but never as frequently as today.
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May 06, 2013, 06:29:07 PM
 #4859

First China, now this: http://blog.coinbase.com/post/49782323057/coinbase-now-processing-15m-per-month-in-bitcoin-buys

Bullish?
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May 06, 2013, 06:33:07 PM
 #4860

This is the first time I've ever been a real bear before. I just sold all my remaining Bitcoins. Still predicting a drop for tommorow. Sad


Being a bear is actually quite crappy, being bullish is much more fun. Sad
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