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

[bad trader]

You do know that OKC only shows 5% of its order book to avoid 'price manipulation'

Please tell me you're not an actual trader without knowing this.

The walls they do show are pretty low.

[LMGTFY]

Because as I just said above its nothing to do with how big or small your walls are.

1) If you look at bid/ask support to base your trade decisions on quit trading right now, yesterday was a perfect example of this.  The Finex books have been stuffed with big bids above $270 for a week or so. All of a sudden thousands of btc in bids gets pulled and the price dumps. Happens all the time.

2) OKcoin only shows 5% of its books if it showed it all you would see very large walls.

3) Yes volume and the fact its the market leading exchange, most the time all the other exchanges are being dragged around by China, it's been this way for a long time.

Note, a large majority of western traders also trade on chinese exchanges due to their low fees, higher liquidity and better order options.

I didn't trade on Gox (well, not since 2011) but I followed their BTC/USD exclusively until it became obvious something was badly wrong. It was around then I realised that BTC/CNY volume was higher than BTC/USD, and I started following various Chinese exchanges (I understand the arguments about fake volume - I just don't think they're relevant for my purposes.) These days I tend to follow OKCoin for that reason, and Finex and Stamp because any trading I do is likely to be in BTC/USD!

You mention Western traders trading on Chinese exchanges - any recommendations? Even for somewhere online such traders hang out...

[bad trader]

OKCoin volume is pretty fake. It's funny to watch the Chinese exchanges trade at high volume without moving the price against much lower walls. And then suddenly there is a market buy or sell, and the price moves breaking through the walls, but the volume is still comparable to the earlier volumes with no movement. I guess those are the moments when an actual real trade happens.

[eerygarden]

totally awesome of bitfinex to refuse to file a $5000 NY bitlicense thus cutting off all people in the finance capital of fucking america and instigating +/-$300,000,000 in btc market devaluation

Gemini is coming.

Waiting for Gemini is like being a prostitute that needs to service a 95 year old man who forgot his viagra.

I am struggling to relate, but I guess we all have different experiences to draw on

There is always plenty of work going spare if you would like to get yourself some hands on experience.

[ChartBuddy]

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Explanation

[Fatman3001]

totally awesome of bitfinex to refuse to file a $5000 NY bitlicense thus cutting off all people in the finance capital of fucking america and instigating +/-$300,000,000 in btc market devaluation

Gemini is coming.

Waiting for Gemini is like being a prostitute that needs to service a 95 year old man who forgot his viagra.

I am struggling to relate, but I guess we all have different experiences to draw on

There is always plenty of work going spare if you would like to get yourself some hands on experience.

I'll keep that in mind if we hit double digits.

[AirFlame]

Yea... fake walls have been here for awhile. Thats why You dont make Your directions watching the bid/ask. In my opinion its not over yer. We will see $250 then goes to $220 soon.

[gentlemand]

Kraken says goodbye to New Yorkers too.

http://blog.kraken.com/post/126244351097/farewell-new-york

That only leaves Bitstamp out of the large Westernish exchanges who intend to apply.

[hdbuck]

muahahah bitlicense XD


screw you new yorkers and your wall street scammers. bitcoin aint bowing for your "regulation".

[Fakhoury]

Kraken says goodbye to New Yorkers too.

http://blog.kraken.com/post/126244351097/farewell-new-york

That only leaves Bitstamp out of the large Westernish exchanges who intend to apply.

Nejc Kodrič on Twitter: Bitstamp is applying for Bitlicense.

https://twitter.com/nejc_kodric/status/630309296245489664

[ChartBuddy]

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Explanation

[cyclotronmajesty]

muahahah bitlicense XD


screw you new yorkers and your wall street scammers. bitcoin aint bowing for your "regulation".

Why compete with Gemini anyway? This I think is more the reason than anything else. Also New York traders taking over may be another concern. Besides they can still trade... they just have to remain anonymous and not do direct deposits.

[gentlemand]

Why compete with Gemini anyway? This I think is more the reason than anything else. Also New York traders taking over may be another concern.

Gemini needs to exist before it can be competed with. Itbit is safer and more regulated than any other exchange out there for a US customer. It hasn't set the world on fire yet.

[Fakhoury]

[wakasaki808]

if u plan on catching a pump u have to get the low and u will only have one chance

[LFC_Bitcoin]

if u plan on catching a pump u have to get the low and u will only have one chance

Yep! Weak hands (idiots) will follow the trend of selling after a 20 USD drop in price. Anybody with half a brain will be buying now. Buy on bad news, sell on good news, that logic has worked for traders for decades.
Personally I HODL but now is totally a good time for accumulating not selling.

[hdbuck]

[ChartBuddy]

Coin
Explanation

[natewelt]

if u plan on catching a pump u have to get the low and u will only have one chance

Yep! Weak hands (idiots) will follow the trend of selling after a 20 USD drop in price. Anybody with half a brain will be buying now. Buy on bad news, sell on good news, that logic has worked for traders for decades.
Personally I HODL but now is totally a good time for accumulating not selling.

I bought more under 262 yesterday. No way I'm selling after a huge panic sell event.

I will keep buying as long as it brings my average down. Right now my average is at 284. Started buying around 450 on the way down from the all-time high.

The reason I did not sell when we went above 300 was because I either want to make thousands of dollars or lose it all. I'm not in this thing to make a couple hundred bucks. I also believe in the system and want to use BTC for its intended purpose eventually.

[eerygarden]

if u plan on catching a pump u have to get the low and u will only have one chance

Yep! Weak hands (idiots) will follow the trend of selling after a 20 USD drop in price. Anybody with half a brain will be buying now. Buy on bad news, sell on good news, that logic has worked for traders for decades.
Personally I HODL but now is totally a good time for accumulating not selling.

I bought more under 262 yesterday. No way I'm selling after a huge panic sell event.

I will keep buying as long as it brings my average down. Right now my average is at 284. Started buying around 450 on the way down from the all-time high.

The reason I did not sell when we went above 300 was because I either want to make thousands of dollars or lose it all. I'm not in this thing to make a couple hundred bucks. I also believe in the system and want to use BTC for its intended purpose eventually.

Right on brother! (I cant pull off saying that in the real world)

I like your mentality and wish you luck. But... at what price does the value need to be before you are happy to use your coins for their intended purpose?