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Question: Will bitcoin ever go below $10K again in your lifetime?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 22711421 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. (148 posts by 37 users deleted.)
seleme
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April 23, 2013, 12:32:59 AM
 #941

40 seconds lag
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April 23, 2013, 12:37:11 AM
 #942

wonkytonky is right. This is a very bullish formation.
It is targeting a run up to $170...


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April 23, 2013, 12:41:04 AM
 #943

wtf just happened?!

From 129 to 125 in 10 seconds
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April 23, 2013, 12:42:29 AM
 #944

4500 sold, 1.5 min lag
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April 23, 2013, 12:42:37 AM
 #945

wtf just happened?!

From 129 to 125 in 10 seconds
Some panicing fool wants to be the first one to sell and hopefully incite mass panic. I hope they fail miserably and lose coins..
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April 23, 2013, 12:42:46 AM
 #946

Resistance. But is there follow-on?
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April 23, 2013, 12:43:08 AM
 #947

Someone decided to a dump a lot of coins. Pretty dumb move. Could've put a wall at $129 and had it bought up in a few minutes

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April 23, 2013, 12:45:47 AM
 #948

Lag completely gone at the moment.  Cheesy
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April 23, 2013, 12:45:58 AM
 #949

Can someone explain why dump 4500K BTC on the market with such slippage. Are there not trading programs that will slice the order up into smaller, random appearing pieces and consume tasty bids from time to time until the whole order is filled? One could do that manually too.
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April 23, 2013, 12:47:24 AM
 #950

wtf just happened?!

From 129 to 125 in 10 seconds
Some panicing fool wants to be the first one to sell and hopefully incite mass panic. I hope they fail miserably and lose coins..

must feel good to sell 4500 coins at 128 though Smiley)
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April 23, 2013, 12:48:19 AM
 #951

Can someone explain why dump 4500K BTC on the market with such slippage. Are there not trading programs that will slice the order up into smaller, random appearing pieces and consume tasty bids from time to time until the whole order is filled? One could do that manually too.

The slippage is not that great, consider what we had been having.
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April 23, 2013, 12:48:55 AM
 #952

You're expecting rational action from traders... oh wait Wink

Yeah price has been quite calm as far as things in Bitcoin are concerned.  Hopefully a rally this week again?
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April 23, 2013, 12:50:53 AM
 #953

Can someone explain why dump 4500K BTC on the market with such slippage. Are there not trading programs that will slice the order up into smaller, random appearing pieces and consume tasty bids from time to time until the whole order is filled? One could do that manually too.

It could be a well-intentioned early adopter trying to cool things down.
Rather than pushing the price down which could trigger panic sell followed by panic buy and random ass shit and lag, it would have been much smarter (and much more profitable) to just put the goddamn order at $129.99 or something and keep the price, you know, stable???
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April 23, 2013, 12:51:02 AM
 #954

I don't think it was someone wanting to push the price down.   If they were, they would not have limited at $125, they would have just continued to sell down instead of leaving the last few hundred coins sit as a mini wall.   I think someone wanted minimum $125 for their 5k coins, and saw an opportunity.
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April 23, 2013, 12:51:18 AM
 #955

he barely changed anything, same number of coins needed for 130 as before his dump.
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April 23, 2013, 12:52:20 AM
 #956

he barely changed anything, same number of coins needed for 130 as before his dump.
What he changed was he put a few coins into my wallet Cheesy
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April 23, 2013, 12:52:52 AM
 #957

Can someone explain why dump 4500K BTC on the market with such slippage. Are there not trading programs that will slice the order up into smaller, random appearing pieces and consume tasty bids from time to time until the whole order is filled? One could do that manually too.

It could be a well-intentioned early adopter trying to cool things down.
Rather than pushing the price down which could trigger panic sell followed by panic buy and random ass shit and lag, it would have been much smarter (and much more profitable) to just put the goddamn order at $129.99 or something and keep the price, you know, stable???

Actually, a 5k wall would have possibly a more destabilizing effect . . .  As you can see a few minutes later, there was virtually no effect.
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April 23, 2013, 01:06:05 AM
 #958

Can someone explain why dump 4500K BTC on the market with such slippage. Are there not trading programs that will slice the order up into smaller, random appearing pieces and consume tasty bids from time to time until the whole order is filled? One could do that manually too.

It could be a well-intentioned early adopter trying to cool things down.
Rather than pushing the price down which could trigger panic sell followed by panic buy and random ass shit and lag, it would have been much smarter (and much more profitable) to just put the goddamn order at $129.99 or something and keep the price, you know, stable???

Actually, a 5k wall would have possibly a more destabilizing effect . . .  As you can see a few minutes later, there was virtually no effect.

Yes. Oftentimes, when it's apparent that we're heading up, large walls are eaten up in one single buy. This is usually followed by more panic buying.

What?
Imagine if an equally sized single 5k buy were put in now. It would have just as big of a destabilizing effect, if not much more, than if the 5k wall would have been up. The 5k wall would have added to the current 5k wall to form a 10k wall. If a 10k buy order was put in right now, it would still eat away that wall, and take us flying to $132 in one fell swoop causing another huge panic buy with no wall of any measurable amount until $140. With the 10k wall up, the price would have been much more stable and while the wall still would have been eaten, it wouldn't be such a huge gain in a matter of seconds so the panic buys would be reduced by a ton.

Market orders by definition ALWAYS reduce market stability while limit orders always increase it. Why? Because market = reducing market depth, while limit = increasing market depth. Market depth == good & stable.
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April 23, 2013, 01:42:09 AM
 #959

that 130 wall is not getting smaller... 10% up in last 15-20 minutes
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April 23, 2013, 01:48:26 AM
 #960

that 130 wall is not getting smaller... 10% up in last 15-20 minutes
No its not. Add the asks cumulatively from current price up to $130. It only looks bigger because people are moving their lower asks up to $130 which then requires a larger $ sum to overcome.
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