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

[ChartBuddy]

Coin
Explanation

[Dilla]

Uhhhh

[cyclotronmajesty]

Quite the volatility eh?

There was defiantly a bull trap up there in the 250s ... They had a price wall up, and they took it down... that made me think there was buying action going on... actually they just moved the wall up so that fooled me. =/ All my profit from 232 is now gone. Now i'm loosing money again.

[dropt]

20,000 coins using 3x leverage... Need something like 6667BTC to borrow the remainder.  So you could flash that wall with 6667BTC + whatever to cover borrowing costs, or ~1.6MM.

It's entirely possible, and I'm not sure that it's been discussed to any length, that the bid (and ask?) wall(s) are predominantly borrowed money.

We would see increase/reduce is swaps... or?

I don't trade leverage, so I can't comment with certainty.  But I believe that bfxdata.com only shows that swaps were taken, not that they were actually used in any capacity.  So if I had 1.6MM+ I could borrow the remaining funds, but not actually place a limit or market order.  I could borrow every single coin there is to borrow (as long as I can pay the interest) but not actually sell them. Effectively bfxdata would show that those funds had been lent out, but we wouldn't know that they were used until we could correlate the swap against buys/sells.

If someone knows otherwise, hopefully they can speak up.

[galdur]

Interesting volume. Just what the doctor has been ordering for over a year. Maybe this has some legs, we´ll have to see what we´ll see. Good luck, g

[nioc]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

I can't believe you don't know this magic number.

[gentlemand]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Fibonacci retracement.

http://www.investopedia.com/articles/technical/04/033104.asp

[Norway]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Fibonacci retracement.

http://www.investopedia.com/articles/technical/04/033104.asp

Ahh, I get it. I hope it was a joke by empowering. (Too many people here that believe in TA, lol!)

[Fakhoury]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Fibonacci retracement.

http://www.investopedia.com/articles/technical/04/033104.asp

How is this related to Bitcoins, gentlemand ?

[CryptoPolice]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Fibonacci retracement.

http://www.investopedia.com/articles/technical/04/033104.asp

How is this related to Bitcoins, gentlemand ?

ROFL at this newbie


https://i.imgur.com/nRnkDf4.gif

[Norway]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Fibonacci retracement.

http://www.investopedia.com/articles/technical/04/033104.asp

How is this related to Bitcoins, gentlemand ?

It's not. Only if you believe math is a religion, not a tool

EDIT: And don't mind CryptoPolice, Fakhoury. He is a troll. Just click "ignore" like I just did, buddy 

[Fakhoury]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Fibonacci retracement.

http://www.investopedia.com/articles/technical/04/033104.asp

How is this related to Bitcoins, gentlemand ?

It's not. Only if you believe math is a religion, not a tool

Then why did empowering said it when it's not in the context ?

[gentlemand]

How is this related to Bitcoins, gentlemand ?

Aw man. I dunno. You need a Technical Analysis advocate. I'm most definitely not sold on the whole concept.

In essence it charts predictable levels of support or resistance in the price movement. The inventor was born around 850 years ago which maybe says it all.

[chriswen]

Okay finex asks are extremely thick.  Though we all know last time they were pulled.  Hopefully we found some good support in the 245 level.  If we break that it won't be good short term.

I think its time to test the ask walls.

[klee]

Okay finex asks are extremely thick.  Though we all know last time they were pulled.  Hopefully we found some good support in the 245 level.  If we break that it won't be good short term.

I think its time to test the ask walls.

China awakes and does not give a flying fuck on Finex walls...

[empowering]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Sure .... when I traced the fibonacci retracement levels of the move from 239.10 to 259.10, I saw the 61.8% retracement level at $246.74 and I thought.... yeah, we are most likely to be headed back to there (61.8%) at least .....  61.8% level is quite a common retracement level, and upon hitting it we often see something occur, a decision, and if it is not going to retrace the move completely, and instead is headed on up, it is a common spot for a bounce, and if it is going to continue to retrace, this is a spot I keep an eye on, if we have got this far.

Sometimes, if the move is quick and violent enough, or moving through a new wave, or reacting to other data, it can move violently through retracements.

Though of the retracement levels,  I find 38.2% and mainly 61.8% to find the most correlations to the market in real time.

So, I posted 61.8% really as an observation, when we were at approx $246.6, just as a note mainly to myself to see if we bounced off this level........ or not. (and to remind myself, that my hunch was right that we would see 246.6 at least again, which it was)

(I am a bit drunk, not at home and too lazy to write this anywhere alse atm, sorry for using the wall as my notepad ha ha)

Now lets see if we get the bounce

(ps and nibbled of course just a little add on.. eyeballing)

[klee]

lol pulled

Guys, focus on the price - not walls and/or volume (though volume can be a pretty good indicator).

Supply & demand..

[ChartBuddy]

Coin
Explanation

[Norway]

61.8 %

I don't get it, empowering. 61.8 % of what? Tell me!

Bla bla bla fibonacci sequence bla bla bla mystical math patterns bla bla bla TA.....

(I am a bit drunk, not at home and too lazy to write this anywhere alse atm, sorry for using the wall as my notepad ha ha)

Cheers mate!!!

[Specular]

How is this related to Bitcoins, gentlemand ?

Aw man. I dunno. You need a Technical Analysis advocate. I'm most definitely not sold on the whole concept.

In essence it charts predictable levels of support or resistance in the price movement. The inventor was born around 850 years ago which maybe says it all.

Not a TA "advocate"... but I have found that it is important to pay attention to markets at certain (very basic) support/resistance levels. I mean, if you are trading - how else do you get in/out with sensible Risk/Reward?