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

[elux]

[ineededausername]

In two weeks we'll be saying, "Crash?  What crash?"

[smoothie]

Guys please stop the offtopic.



Are we are looking at "likely?" Or is it going up and up and up?

I love how people think that drawing lines on a graph makes the price go in that direction.

[ineededausername]

that chart completely ignores depth

[smoothie]

but the lines! look they drew lines!!

Lol  this haahhaha

[nazgulnarsil]

I dunno man, those seem like some pretty good lines.  What is that? 8 point brush in maroon with radiused ends?  Nice.

[awakening]

Goes up like a rocket.   

[Kazu]

All those sell walls are coming down...

[elux]

110 got pulled, not bought out...

[just1nmc]

Bids nearing $22M, asks falling.  

[Terpie]

Damn, I wish I had not pulled those bids when it shot down to $50. Oh well, glad I'm still long.

[Rockford]

[michaelGedi]

I dunno man, those seem like some pretty good lines.  What is that? 8 point brush in maroon with radiused ends?  Nice.

[Ploo]

Bids barely touched.

[DougTanner]

Jeeze, I go see a movie and come back to this!

[michaelGedi]

yeah...

not sure where this is coming from

[elux]

Our benevolent (?) manipulators seem to have pulled out...

[giszmo]

But combined with the bid sum being back on track I think those are strong indicators for buying pressure.



(Although we have a healthier ask sum this time so hopefully the rise will be more gradual)

Please have a look at where the bid sum actually resides. Half of it is below $60/Ƀ, $2M are even below $25/Ƀ. I call manipulators all those that move millions but park them at market – 50%.

I would love to see in addition to the above chart a chart with the weighted average bid and the weighted average ask and a chart of that spread which I would call manipulators activity chart.

What you describe sounds mostly like it would display the spread. How do you suggest to weight bids/asks, by order volume or by something else?

I have experimented quite a bit with orders weighted by the "distance" to the current price. Did not work out well so far but I am open for suggestions.

What is the problem? You have total_bid_sum / total_ask_sum. If you take
for(Bid bid:bids) {
  weighted_bid_price+=bid.price_per_BTC * bid.volume_USD;
}
weighted_bid_price/=total_bid_sum;
for(Ask ask:asks) {
  weighted_ask_price+=ask.price_per_BTC * ask.volume_USD;
}
weighted_ask_price/=total_ask_sum_USD;

Ok, so total_ask_sum is the problem, cause somebody wanting millions for his bitcoin is a problem, right? So you have to take the last trade:
weighted_ask_price/=total_ask_sum_BTC*last_trade;

Hmm, not quite right neither …

Edit:
for(Bid bid:bids) {
  weighted_bid_price+=bid.price_per_BTC * bid.volume_USD;
}
weighted_bid_price/=total_bid_sum;
for(Ask ask:asks) {
  weighted_ask_price+=ask.price_per_BTC * ask.volume_BTC;
}
weighted_ask_price/=total_ask_sum;


Would that work?

[Kazu]

"Sir, we have a problem. Our ask walls are falling and Gox isn't lagging"

RUN FOR COVER!

[NamelessOne]

Our benevolent (?) manipulators seem to have pulled out...

The main superwall at 70 remains intact. It is simply someones staggered orders ranging in the 70s to 80 that were pulled. That person may actually want to buy in now as it is rising away from them.