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

[Cconvert2G36]

Yep, that totally real and organic trading in a couple dollar range on bitstamp.

[adaseb]

Seems to be little movement due to large of volume. These are the area's to watch.

[marcus_of_augustus]

yep, big volume clearing out the specs ...

[adaseb]

Here it is on a larger time frame.

Basically

Large Term - Bullish
Short Term - Bearish
Current Term - Neutral

[Richy_T]

Will 2016 be the year of the bitcoin?

It can either be the year of the bitcoin or the year of the morons. Stay tuned here folks for that turn out

Why not both?

[ChartBuddy]

Coin



Explanation

[Cconvert2G36]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

[adaseb]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

Sorry for the typo. Meant lack of volume.

[Cconvert2G36]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

Sorry for the typo. Meant lack of volume.

Ah, carry on then.

[ChartBuddy]

Coin



Explanation

[JayJuanGee]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

How can you be so convinced that the volume on Stamp is not real? 

There is a BTC price battle going on, no? 

And, such BTC price battle has been going on for nearly 14 weeks (specifically on Stamp - as the price leader), and more intensified in the past about 4 weeks, no?

 What's your evidence to the contrary?

[adaseb]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

How can you be so convinced that the volume on Stamp is not real? 

There is a BTC price battle going on, no? 

And, such BTC price battle has been going on for nearly 14 weeks (specifically on Stamp - as the price leader), and more intensified in the past about 4 weeks, no?

 What's your evidence to the contrary?

Isn't Bitfinex the volume leader ?

[JayJuanGee]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

How can you be so convinced that the volume on Stamp is not real? 

There is a BTC price battle going on, no? 

And, such BTC price battle has been going on for nearly 14 weeks (specifically on Stamp - as the price leader), and more intensified in the past about 4 weeks, no?

 What's your evidence to the contrary?

Isn't Bitfinex the volume leader ?

Sorry if my post was a little bit ambiguous.

I am not talking about volume to be important in and of itself.  I was referring to Bitstamp as the price leader (more or less), and it is the price leader mostly because it does not have leveraging and it has fees, and therefore, its volume is much more representative concerning the ongoing battle over price....

Accordingly, the volume increase on stamp over the past about 14 weeks has significance to my earlier points, no?

[Cconvert2G36]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

How can you be so convinced that the volume on Stamp is not real? 

There is a BTC price battle going on, no? 

And, such BTC price battle has been going on for nearly 14 weeks (specifically on Stamp - as the price leader), and more intensified in the past about 4 weeks, no?

 What's your evidence to the contrary?

It's just my strong personal impression. Looking at the walls, looking at the action, round numbers, comparative volume before and after...

You can believe it's just two hardened traders fighting it out, then giving up, the price about where it left off... if you want.

[ChartBuddy]

Coin



Explanation

[JayJuanGee]

Why does "large of volume" mean anything, when a nice chunk of that is obvious wash trades?

At least they could adjust the algo to make it a little more convincing... like the chinese appear to be doing.

How can you be so convinced that the volume on Stamp is not real? 

There is a BTC price battle going on, no? 

And, such BTC price battle has been going on for nearly 14 weeks (specifically on Stamp - as the price leader), and more intensified in the past about 4 weeks, no?

 What's your evidence to the contrary?

It's just my strong personal impression. Looking at the walls, looking at the action, round numbers, comparative volume before and after...

You can believe it's just two hardened traders fighting it out, then giving up, the price about where it left off... if you want.

I understand that several posters imply some kinds of battles between a few whales and even sometimes theories that involve the same whales buying and selling to themselves.  I do not really buy those kinds of theories because i find them to be too simplistic and too conspiratorial, even though from time to time, some of that could be going on.

For the most part, what I am suggesting (and "believing" in your words) is that there are several buyers and several sellers, sometimes they pile on or join in, but for the most part they are acting independently in an attempt to maximize their own value through their trades and attempting to predict and or influence the direction of the market.  There is nothing really in what I said that should suggest that I buy into any of these concepts of a small number of actors.

However, don't get me wrong.  I do believe that some players have much more abilities than others to control and manipulate BTC's price direction - but that does not mean that I believe that they are always able to control the price direction or that some of the other indicators still apply, and that is that some of the increased volume is much organic and nature and signs that prices are more difficult to control, and could be subject to fairly violent outbursts in either direction at somewhat unexpected times (the times of outburst are more unknown by us regular small traders in comparison to some of the bigger players who may have better indications for when they may be running out of either coins or fiat).

[wutizurkwest]

The next 24 hours are...nevermind, you get the idea.

[Cconvert2G36]

They are doing anything but manipulate the direction of the price in these bitstamp volume spikes. I think it's probably nothing more than getting them nearer the top of the global volume stat pages. I also doubt it's bitstamp doing it, more likely a trader with enough volume to have near 0 or 0 trading fees, doing the job of returning the favor.

*All just strong personal impression, not investment advice, not accusation of wrong-doing.

[JayJuanGee]

They are doing anything but manipulate the direction of the price in these bitstamp volume spikes. I think it's probably nothing more than getting them nearer the top of the global volume stat pages. I also doubt it's bitstamp doing it, more likely a trader with enough volume to have near 0 or 0 trading fees, doing the job of returning the favor.

*All just strong personal impression, not investment advice, not accusation of wrong-doing.

Well, it is already public that Bitstamp provides staggered trading fees, that is lower fees for higher volume.  I doubt that they are merely applying the lower  fees in order to achieve placement on a volume chart, but anyhow they are already big, and have been big for a while.  It is within reasonable speculation that they may be providing some trading fees lower than the officially published rates.  There is nothing really amazing about that.   As long as they charge some fees, they would be in a real decent position to make a lot of money, even with very low trading fees, if they are attracting big pocket players and they are also providing sufficient volume that more big players are incentivized to come to bitstamp to trade because they can quickly trade larger and larger amounts of BTC with little to no slippage

[Proxiebuier]

The next 24 hours are...nevermind, you get the idea.

i see new bullish trend will become soon 

hold your bitcoin and waiting $500 again maybe $1000 at blackfriday