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

[kurious]

Does anybody have a analysis of price movement during weekends?

Yes       I
            I
            I
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+1

Or should that be...

-1

[Nemo1024]

There be a huge bid wall on Bitstamp at 830. I've usually seen those before a dump!

Don't worry, it will not be there for long. Watch.

Now it will go away.

Still there.

edit. it moved

All sing: It's a kind of magic!

[kurious]

bitcoin report on ITV news in the next few mins


http://www.itv.com/itv/

It may well be 2 minutes tops and trashy - ITV is not the BBC...

[keewee]

Does anybody have a analysis of price movement during weekends?

There was a thread about this, with a strategy described too. Old thread but was fun to follow. https://bitcointalk.org/index.php?topic=63312.0

[TERA]

All the bull talk is getting old - every 2% increase its "back to the moon" and then it drops again.

[rpietila]

All sing: It's a kind of magic!

How to make a million dollars (from orderbook) go poof

[Patel]

I think the longer we keep going slightly downwards, the better. It insures we won't drop to 542 overnight again

[MAbtc]

I think the longer we keep going slightly downwards, the better. It insures we won't drop to 542 overnight again

That's only until someone forces a sell-off. Remains to be seen....

[manfred]

The way I see it, we go sideways for about 5 weeks.

[rpietila]

All sing: It's a kind of magic!

How to make a million dollars (from orderbook) go poof

If you want to know what's the point in having walls on the opposite side of what you are doing, the benefit is twofold:

- The price can be pushed higher. It is only between 0.5%-1%, but it adds up when making a large trade.
- The volume can be induced. Bitstamp was dead before the walls, but then there came so many traders that I could sell BTC300 in 40 minutes with positive slippage (while trolling the forum ofc)!

In total I made about $3,000-$5,000 by not crashing the price to 850. In another kind of circumstances that would have been beneficial due to the panic effect but now it does not matter; bitcoin is overvalued and it will slowly come down in the timeframe of 1-3 months.

[tarmi]

rpietila smart.

not a poor farmer anymore.

good luck to you spending that fiat. you will be runned over, sooner or later.

[ibrahim11]

im hoping btc is gonna go to 500usd

[TERA]

Many downtrends start slow and then arc down. Right now were still clinging on to a couple support levels on the chart.

[DaRude]

To spice up a little: Is anyone willing to accept a $10,000-$100,000 escrowed bet that Bitstamp will hit $500 before hitting $1,000?

What odds? I am thinking that $1,000 is much more probable but I am willing to take the other side if odds good enough.

Really no one is jumping on this?

[Miz4r]

I think the longer we keep going slightly downwards, the better. It insures we won't drop to 542 overnight again

Actually a slow slide downwards often turns into an avalanche at some point. People holding bitcoins hate seeing its value slowly sliding down and down and at some point the twig just breaks. So far not seeing that here because we're still sitting at the same price level where we were yesterday for a long time but if we slide below 840-850 on Gox (830 Bitstamp) a real sell-off is very easily triggered.

[Richy_T]

Usenet is not going away.

I concur. It's not fully decentralized though.

[tutkarz]

I will tell you ultimate truth: anything can happen

[rpietila]

and i think that even if the market goes down, their wont be enough asks for you to effectively buy back the coins you sold.

this is pure speculation on my part.

Facts do not support your speculation. There have been 4 major high-volume crashes in the last month, the 5-minute volume in one exchange alone in the bottom of the crash is easily BTC2,000. Example chart&data.

I am prepared to trade the final capitulation in 4 exchanges, spreading the volume.

If I was an order of magnitude bigger, then I could not hide my buys in the orderbooks and it would be complicated. But then I would own an exchange and oh boy...

[kurious]

I will tell you ultimate truth: anything can happen

I have a feeling staying over 900 all weekend is highly unlikely - am in more fiat than usual, I think we might see some cheap coins this weekend.

[macsga]

Everybody understands that *if* this maintains itself (or go better) next week will be rising like hell... right?

and i think that even if the market goes down, their wont be enough asks for you to effectively buy back the coins you sold.

this is pure speculation on my part.

Facts do not support your speculation. There have been 4 major high-volume crashes in the last month, the 5-minute volume in one exchange alone in the bottom of the crash is easily BTC2,000. Example chart&data.

I am prepared to trade the final capitulation in 4 exchanges, spreading the volume.

If I was an order of magnitude bigger, then I could not hide my buys in the orderbooks and it would be complicated. But then I would own an exchange and oh boy...

GAWD HEWLP US!!!