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Question: When will we see a new ATH? (Credit to: Biodom)
2019 - 14 (8.9%)
Early 2020 - 35 (22.2%)
Late 2020 - 47 (29.7%)
Early 2021 - 14 (8.9%)
Late 2021 - 25 (15.8%)
2022 - 4 (2.5%)
2023 - 0 (0%)
2024 - 4 (2.5%)
After 2024 - 3 (1.9%)
Never - 12 (7.6%)
Total Voters: 158

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21430947 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. (129 posts by 23 users deleted.)
SlipperySlope
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May 09, 2013, 01:25:28 PM
 #6421

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May 09, 2013, 01:30:39 PM
 #6422

How cool is it that the bearish highs and bullish lows have converged on the one month anniversary of the big crash from 266?

Mere coincidence or divine forces at work? Cheesy
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May 09, 2013, 01:42:58 PM
 #6423

I don't think we've ever seen quite this level of entrenchment after January.  This might be the stability we've been waiting for Smiley

Yes if I wasnt't trading with 4:1 leverage through plus500, I might have fallen asleep  Shocked

I am doing plus500 as well.

Shorting and waiting for it to get to 95

Who borrows you the Bitcoin on plus500 when you go short?
What's the interest?

Nobody lends you nothing. They are CFD's (https://en.wikipedia.org/wiki/Contract_for_difference) - one of the many financial scams AKA derivatives that Bitcoin was meant to fight.

Shouldn't the issuer (plus500) try to behave risk-neutral? Are they fully gambling against you? Will they only accept as much "short" as somebody else goes "long"?
Besides that I really really like the interface - worlds between that and gox.
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May 09, 2013, 01:48:21 PM
 #6424


Haha, yeah, it's pretty bad. I'll add some logic in to not post up if there's no data. You'll probably still see the 9am central chart though. Actually, I'll just turn it off. Gox probably isn't coming back in a hurry.
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May 09, 2013, 01:48:29 PM
 #6425

How cool is it that the bearish highs and bullish lows have converged on the one month anniversary of the big crash from 266?

Mere coincidence or divine forces at work? Cheesy

divine
SlipperySlope
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May 09, 2013, 01:50:29 PM
 #6426

How cool is it that the bearish highs and bullish lows have converged on the one month anniversary of the big crash from 266?

Mere coincidence or divine forces at work? Cheesy

I believe that the ascending bullish lows represent the notion that the underlying long term trend is consistent with the January-March trend, e.g. doubling every 30 days. This notion is unsustainable.

I believe that the descending bearish highs represent the bubble collapse. Bubble theory says that typical bubbles give back all their speculative gains.

Perhaps one month from the April 10 peak at $266 is long enough for the predominant trader sentiment to shift to the fact that the waves of new buyers are diminishing, causing demand to likewise diminish, causing prices to likewise diminish.
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May 09, 2013, 01:50:55 PM
 #6427

I don't think we've ever seen quite this level of entrenchment after January.  This might be the stability we've been waiting for Smiley

Yes if I wasnt't trading with 4:1 leverage through plus500, I might have fallen asleep  Shocked

I am doing plus500 as well.

Shorting and waiting for it to get to 95

Who borrows you the Bitcoin on plus500 when you go short?
What's the interest?

Nobody lends you nothing. They are CFD's (https://en.wikipedia.org/wiki/Contract_for_difference) - one of the many financial scams AKA derivatives that Bitcoin was meant to fight.

Shouldn't the issuer (plus500) try to behave risk-neutral? Are they fully gambling against you? Will they only accept as much "short" as somebody else goes "long"?
Besides that I really really like the interface - worlds between that and gox.

Yes, they are just gambling against you. They will accept any amount of "short", regardless of how much anybody else goes "long".

Welcome to the derivatives world. This is how this big blackhole financial crisis started - didn't you know?

They just gamble ad infinitum with funny papers and debt money. And when everything goes south, we bail them out - not directly to plus500 in this case, but to the banks and funds that own them/lend them the money (in this case are UK financial institutions).
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May 09, 2013, 01:51:00 PM
 #6428


Haha, yeah, it's pretty bad. I'll add some logic in to not post up if there's no data. You'll probably still see the 9am central chart though. Actually, I'll just turn it off. Gox probably isn't coming back in a hurry.

It's all good. Jaroslaw is just pissed we're not at single digits yet. And give the level of movement, the chart is still fairly accurate.  Grin
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May 09, 2013, 01:59:43 PM
 #6429

What does slippage mean on theBTC clarkmoody page?
Its About Sharing
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May 09, 2013, 02:07:29 PM
 #6430

How cool is it that the bearish highs and bullish lows have converged on the one month anniversary of the big crash from 266?

Mere coincidence or divine forces at work? Cheesy

I believe that the ascending bullish lows represent the notion that the underlying long term trend is consistent with the January-March trend, e.g. doubling every 30 days. This notion is unsustainable.

I believe that the descending bearish highs represent the bubble collapse. Bubble theory says that typical bubbles give back all their speculative gains.

Perhaps one month from the April 10 peak at $266 is long enough for the predominant trader sentiment to shift to the fact that the waves of new buyers are diminishing, causing demand to likewise diminish, causing prices to likewise diminish.

But aren't we just trying to find a price and go from there? I mean looking at outstanding shares, shouldn't be be able to find an agreeable price. It is hard for me to look at this just as a TA thing.

Yes, the bull run up was unsustainable but it happened at an interesting time and to find a price. Now we have started a correction and none of us really know where it is going. Also, the market has just opened up more to China it seems.

I think sentiment is what is going to drive this, at least in large part. The other part might just be services and such - things that enable BTC.
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May 09, 2013, 02:15:16 PM
 #6431

What does slippage mean on theBTC clarkmoody page?
I think its how much money is wasted due to rounding error...not sure though...
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May 09, 2013, 02:18:46 PM
 #6432

What does slippage mean on theBTC clarkmoody page?
I think its how much money is wasted due to rounding error...not sure though...

Nah, if you buy you buy from the asks but you cannot simply multiple the ask price with the amount of Bitcoins you want to buy if the number of Bitcoins you wish to buy exceeds the number of Bitcoins offered at that ask price. Slippage shows how much more you have to pay over the current market price to get the number of Bitcoins you wish to acquire.

The same holds true for the selling side of course Smiley
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May 09, 2013, 02:28:22 PM
 #6433

Has Gox limited or disabled the bots?  If so, it's a bad omen when that results in almost no volume... Another indication of how much control the bots really have.
el_rlee
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May 09, 2013, 02:30:22 PM
 #6434

Has Gox limited or disabled the bots?  If so, it's a bad omen when that results in almost no volume... Another indication of how much control the bots really have.

Not to my knowledge. I guess there are simply no buy/sell signals for the bots.
What should a bot do if the market is moving sideways?
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May 09, 2013, 02:32:52 PM
 #6435

Has Gox limited or disabled the bots?  If so, it's a bad omen when that results in almost no volume... Another indication of how much control the bots really have.

Not to my knowledge. I guess there are simply no buy/sell signals for the bots.
What should a bot do if the market is moving sideways?

Someone posted on facebook about his price checker app getting banned. I presume it relied on the APIs.

Gox has restricted bots in the past by doing something with the APIs or banning accounts/IPs.  I can't find their post about it, but I know it's been done. Wouldn't be surprised if the same is going on now.

*edit*

Also, I'm seeing a lot less of the obvious bot orders (0.0001, etc).  There are still a few, but it's a tiny fraction of what was going on yesterday.
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May 09, 2013, 02:33:05 PM
 #6436

Extended periods of low volume slowly creep up until the situation becomes characterized by a large market order. Market hasn't shown any willingness to break 116 since the last time it was 120 and 114 is also 12 hours behind us.


30k depth to 100 may be the only thing stopping the market sells
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May 09, 2013, 02:35:34 PM
 #6437

RSI flatline at exactly 50, with ridiculously low volumes. I don't know what to think.
This being Bitcoin, it has to mean that something is about to get kicked loose, right?

Yes, I think so. However, it's also a christian holiday today as you might be aware.
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May 09, 2013, 02:36:13 PM
 #6438

What does slippage mean on theBTC clarkmoody page?
I think its how much money is wasted due to rounding error...not sure though...

Nah, if you buy you buy from the asks but you cannot simply multiple the ask price with the amount of Bitcoins you want to buy if the number of Bitcoins you wish to buy exceeds the number of Bitcoins offered at that ask price. Slippage shows how much more you have to pay over the current market price to get the number of Bitcoins you wish to acquire.

The same holds true for the selling side of course Smiley

Yeah, I think the rounding error is the plot to Superman 3.
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May 09, 2013, 02:36:19 PM
 #6439

Once the masses realize how important the bots are in pumping up the price to artificial levels, they will beg Gox to turn the bots back on.
molecular
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May 09, 2013, 02:39:08 PM
 #6440

How cool is it that the bearish highs and bullish lows have converged on the one month anniversary of the big crash from 266?

Mere coincidence or divine forces at work? Cheesy

There's nothing "divine" about a month, though. arbitrary human construct, no?
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