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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21451303 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. (135 posts by 29 users deleted.)
Abandon
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May 18, 2013, 03:16:23 AM
Last edit: May 18, 2013, 04:42:51 AM by Abandon
 #9341

There's a strong buy wall right now, and the sell wall is vulnerable.
That 1300 wall has been reduced to 500 so far. Not THAT strong.

What I look at are the shapes of the wall, not so much how many buys there are to sells. For instance, inward curved walls have a lot of strength the more curved and smooth they are. Staircases, and linear walls are often the weakest.

It has a lot to do with the mentality of the traders, smart traders space out their orders, at optimum positions, and don't use whole numbers.

If there's an outward curve, that likely means that there is a resistance/support wall, that once broken, the sky becomes the limit (At least until people start selling).

Curved walls also tend to be the most adjusting, while other walls can be there from old orders, and are not often very strategically placed.

Stairs in the wall, only give traders a target, the more stairs at whole numbers, the more easily it will break under continuous attack, that is unless it comes to the point of being curved instead.

If there is one large break, it is a strong resistance/support, that can eventually break if not removed, but depends on where the market is heading in the long term.

Stairs that are far away, are possible resistance/support points, that could easily form a curve between three or so of them when reached.

If this proves useful to you, please tip a few cents! v   Smiley
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May 18, 2013, 04:01:53 AM
 #9342

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May 18, 2013, 05:02:20 AM
 #9343

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May 18, 2013, 06:02:06 AM
 #9344

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May 18, 2013, 06:03:08 AM
 #9345

The cool thing about this conference is that I got to chat with Brian Armstrong before he went on to Free Talk Live, and I learned why they had so many problems with low daily limits on the number of BTC they could sell. It was because of limitations placed on them by their bank, not anything inherent to their processes or backend capability. Apparently the bank has removed this limit as a result of their success in raising $5 million in additional capital.

Once awareness of this increased capability spreads, I expect it to have the same effect on the price in the medium term that their initial unveiling of ACH purchases had back at the end of January.
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May 18, 2013, 06:34:19 AM
 #9346

This "Get-out-of-Gox" yankee-rally won't last long Cheesy
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May 18, 2013, 07:02:33 AM
 #9347

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May 18, 2013, 07:53:37 AM
 #9348

This "Get-out-of-Gox" yankee-rally won't last long Cheesy

I don't see the volume for that
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May 18, 2013, 08:02:22 AM
 #9349

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May 18, 2013, 09:03:26 AM
 #9350

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May 18, 2013, 09:17:18 AM
 #9351

This "Get-out-of-Gox" yankee-rally won't last long Cheesy

I don't see the volume for that

From what I understand the Dwolla users transfer a few hundred dollars at a time so there's no surprise there.
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May 18, 2013, 09:45:51 AM
 #9352

The cool thing about this conference is that I got to chat with Brian Armstrong before he went on to Free Talk Live, and I learned why they had so many problems with low daily limits on the number of BTC they could sell. It was because of limitations placed on them by their bank, not anything inherent to their processes or backend capability. Apparently the bank has removed this limit as a result of their success in raising $5 million in additional capital.

Once awareness of this increased capability spreads, I expect it to have the same effect on the price in the medium term that their initial unveiling of ACH purchases had back at the end of January.

Great inside info JR. Interesting.
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May 18, 2013, 10:02:26 AM
 #9353

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May 18, 2013, 10:36:57 AM
 #9354

This "Get-out-of-Gox" yankee-rally won't last long Cheesy [emphasis added by Pzi4nk]

Is this a baseball thing?
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May 18, 2013, 10:41:17 AM
 #9355

This "Get-out-of-Gox" yankee-rally won't last long Cheesy [emphasis added by Pzi4nk]

Is this a baseball thing?

It's more of an idiot thing.

A few vocal people who trade with 'pocket change' amounts of money can't make a withdrawal for 25 cents any more and this is creating a big problem for them.

They think it's causing a 'bank run' on MtGox - it's hilarious.

Dwolla = Dust transactions.
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May 18, 2013, 10:46:27 AM
 #9356

This "Get-out-of-Gox" yankee-rally won't last long Cheesy [emphasis added by Pzi4nk]

Is this a baseball thing?

It's more of an idiot thing.

A few vocal people who trade with 'pocket change' amounts of money can't make a withdrawal for 25 cents any more and this is creating a big problem for them.

They think it's causing a 'bank run' on MtGox - it's hilarious.

Dwolla = Dust transactions.

Indeed. The theory is that dwolla users (which is USA customers only) are converting their fiat on gox into btc in order to shift it elsewhere, hence artificially driving up the price, towing bitstamp and other markets upward.

However, major dollar buyers would use wire transfers and remain unaffected, so probably the theory is lame, and BTC was headed up anyway,
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May 18, 2013, 10:51:26 AM
 #9357

Solex, that's a great signature.

"Got a new wallet? Here's a test address to practice sending to: 18acC6avzFy495oQWbRtr2Z7hirYW4u8DD"

Do you get many takers?
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May 18, 2013, 11:02:56 AM
 #9358

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May 18, 2013, 11:04:25 AM
 #9359

Solex, that's a great signature.

"Got a new wallet? Here's a test address to practice sending to: 18acC6avzFy495oQWbRtr2Z7hirYW4u8DD"

Do you get many takers?

ha, thanks. 4 donations in 4 months, but each time getting smaller....  will be a long while to get to 1 BTC at this rate tho.
Don't forget you can check any address this way:
https://blockchain.info/address/18acC6avzFy495oQWbRtr2Z7hirYW4u8DD
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May 18, 2013, 11:54:44 AM
 #9360

This "Get-out-of-Gox" yankee-rally won't last long Cheesy [emphasis added by Pzi4nk]

Is this a baseball thing?

It's more of an idiot thing.

A few vocal people who trade with 'pocket change' amounts of money can't make a withdrawal for 25 cents any more and this is creating a big problem for them.

They think it's causing a 'bank run' on MtGox - it's hilarious.

Dwolla = Dust transactions.

Indeed. The theory is that dwolla users (which is USA customers only) are converting their fiat on gox into btc in order to shift it elsewhere, hence artificially driving up the price, towing bitstamp and other markets upward.

However, major dollar buyers would use wire transfers and remain unaffected, so probably the theory is lame, and BTC was headed up anyway,



hmmm, ok I didn't understand dwolla completely, but there are some massive ask walls getting in the way on bitstamp at this time... they are relatively new. I for one will cash out via bitstamp if/when I need to purely for convenience... I guess maybe that's what the other guys are thinking
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