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

[GreekGeek]

For me, there is someone trying to stabilize the price in the mid-130s. Someone big. Perhaps MtGox?

that is fine with me!!!

[phoenix1]

For me, there is someone trying to stabilize the price in the mid-130s. Someone big. Perhaps MtGox?

For me the lack of volume does not support this theory
Mt Gox make money when there is volume and that generally comes with movement and volatility ... price stability, though welcome in the long term is currently contrary to their interests as I see it.

[d5000]

That makes sense. But there is someone trying to drive the price up. Reminds me to a similar situation in the 60s just after the -> 53 crash.

Could also be a classic bull - bear fight. Now bear has dumped 2k to 131 - we'll see if bull reacts.

[NamelessOne]

That makes sense. But there is someone trying to drive the price up. Reminds me to a similar situation in the 60s just after the -> 53 crash.

Could also be a classic bull - bear fight. Now bear has dumped 2k to 131 - we'll see if bull reacts.

That bear was actually driving the price down. Stupidly placing a 1.5k wall lower and lower before finally panicing and selling into the 132 wall. That seems like compete amateur crap to me rather than manipulation attempt. The person actually thought someone was going to just buy their large'ish wall on a low volume Saturday but instead they just created a resistance and no one bought, thus the price couldn't go anywhere but down, and they chased it for the last couple hours, always lowering the 1.5k. In the end it went from 135 to 133 and finally they gave up and sold into the 132 bid wall. HAHAH what a joke.

[Ploo]

That makes sense. But there is someone trying to drive the price up. Reminds me to a similar situation in the 60s just after the -> 53 crash.

Could also be a classic bull - bear fight. Now bear has dumped 2k to 131 - we'll see if bull reacts.

That bear was actually driving the price down. Stupidly placing a 1.5k wall lower and lower before finally panicing and selling into the 132 wall. That seems like compete amateur crap to me rather than manipulation attempt. The person actually thought someone was going to just buy their large'ish wall on a low volume Saturday but instead they just created a resistance and no one bought, thus the price couldn't go anywhere but down, and they chased it for the last couple hours, always lowering the 1.5k. In the end it went from 135 to 133 and finally they gave up and sold into the 132 bid wall. HAHAH what a joke.

Yeah, that was weird to watch. When the wall came down to $133 I was hoping someone would just snatch it up, teach the guy a lesson until he dumped it and I realized it's just a confused bear with too many coins.

[d5000]

Seems you are right, a low-volume buy brought price again to 133-134.

Time to do other things ...

[phoenix1]

That makes sense. But there is someone trying to drive the price up. Reminds me to a similar situation in the 60s just after the -> 53 crash.

Could also be a classic bull - bear fight. Now bear has dumped 2k to 131 - we'll see if bull reacts.

That bear was actually driving the price down. Stupidly placing a 1.5k wall lower and lower before finally panicing and selling into the 132 wall. That seems like compete amateur crap to me rather than manipulation attempt. The person actually thought someone was going to just buy their large'ish wall on a low volume Saturday but instead they just created a resistance and no one bought, thus the price couldn't go anywhere but down, and they chased it for the last couple hours, always lowering the 1.5k. In the end it went from 135 to 133 and finally they gave up and sold into the 132 bid wall. HAHAH what a joke.

TBH most of the time I read manipulator here I mentally replace the word with 'amateur trader'. Sure, the market is manipulated as all markets are, but not every trade that moves the market is a 'manipulation'. A lot of it is just overly emotional trading (panic at potentially missing an opportunity)
Lots of paranoia here me thinks  

[NamelessOne]

That makes sense. But there is someone trying to drive the price up. Reminds me to a similar situation in the 60s just after the -> 53 crash.

Could also be a classic bull - bear fight. Now bear has dumped 2k to 131 - we'll see if bull reacts.

That bear was actually driving the price down. Stupidly placing a 1.5k wall lower and lower before finally panicing and selling into the 132 wall. That seems like compete amateur crap to me rather than manipulation attempt. The person actually thought someone was going to just buy their large'ish wall on a low volume Saturday but instead they just created a resistance and no one bought, thus the price couldn't go anywhere but down, and they chased it for the last couple hours, always lowering the 1.5k. In the end it went from 135 to 133 and finally they gave up and sold into the 132 bid wall. HAHAH what a joke.

TBH most of the time I read manipulator here I mentally replace the word with 'amateur trader'. Sure, the market is manipulated as all markets are, but not every trade that moves the market is a 'manipulation'. A lot of it is just overly emotional trading (panic at potentially missing an opportunity)
Lots of paranoia here me thinks  

I agree 

[tomjo7]

That makes sense. But there is someone trying to drive the price up. Reminds me to a similar situation in the 60s just after the -> 53 crash.

Could also be a classic bull - bear fight. Now bear has dumped 2k to 131 - we'll see if bull reacts.

That bear was actually driving the price down. Stupidly placing a 1.5k wall lower and lower before finally panicing and selling into the 132 wall. That seems like compete amateur crap to me rather than manipulation attempt. The person actually thought someone was going to just buy their large'ish wall on a low volume Saturday but instead they just created a resistance and no one bought, thus the price couldn't go anywhere but down, and they chased it for the last couple hours, always lowering the 1.5k. In the end it went from 135 to 133 and finally they gave up and sold into the 132 bid wall. HAHAH what a joke.

TBH most of the time I read manipulator here I mentally replace the word with 'amateur trader'. Sure, the market is manipulated as all markets are, but not every trade that moves the market is a 'manipulation'. A lot of it is just overly emotional trading (panic at potentially missing an opportunity)
Lots of paranoia here me thinks  

Yep, I'm one of those... I've got none at the moment I sold them earlier on (slight panic sell, to be honest). If I buy in again I'll be buying in at pretty much the same as I sold at. I just can't see where this is going (up or down). As you can tell I'm new to this and have never traded before pre-BTC.

[phoenix1]

Maybe the dude just had to go out for dinner and was sick of trying to sell 'a little bit higher'  

As a wise man once said 'Don't be a dick for a tick' ... if you truly want in or out of a position just do it ... dont piss around trying to be clever and missing the in/out and regretting it later. Bite the bullet. Sometimes that also involves knocking the market a few points either way ...

[phoenix1]

Yep, I'm one of those... I've got none at the moment I sold them earlier on (slight panic sell, to be honest). If I buy in again I'll be buying in at pretty much the same as I sold at. I just can't see where this is going (up or down). As you can tell I'm new to this and have never traded before pre-BTC.

tomjo7
What you do depends on your motivation ... if you are looking to 'trade' I would say that this is not a particularly good entry point due to the aimlessness and low volume (and also I think we are headed lower  )
If you don't have a view, don't do anything ... sit on your hands and wait til you have a view.
Wise man once said "if there's nothing to do, do nothing"

If you have a fixed sum you want to put in and hold for the long term, it does not matter so much ... if this is where you sold out in a panic, buying back in at the same level does not sound so bad.

Ask yourself, right now, am I comfortable having no Bitcoins ... ?

[Krabby]

Wake up, slight movement.

[dmiceman]

Hello, 129!

[phoenix1]

Wake up, slight movement.

It's alive !

[NamelessOne]

The walls to 120 are pretty damn intense. I don't foresee this busting through those.

[phoenix1]

The walls to 120 are pretty damn intense. I don't foresee this busting through those.

I think much blood will be shed before we find out for sure ...

[NamelessOne]

The walls to 120 are pretty damn intense. I don't foresee this busting through those.

I think much blood will be shed before we find out for sure ...

I think that is a reasonable prediction, haha 

[NamelessOne]

I'm enjoying the forum at the moment, there is price movement happening and we don't have 'Idiot FUD Noobs' shrieking, crying and posting 1000 threads that are useless and only prove how stupid the OP is. Knock on wood.    

[Apraksin]

The walls to 120 are pretty damn intense. I don't foresee this busting through those.

Newb question: When you say walls, are these the pre-sett orders where people will buy back inn because of the reduction in price? Vice versa for walls hindering a to steep rise in the price?

[NamelessOne]

Yeah if you look at a chart, and someone has a huge bid order at say 120 for 7000btc it would take one huge seller or a whole lot of smaller sales to smash through 'the wall'. On a chart like bitcoinity or mtgoxlive it even looks like a vertical wall, ahha. Thus walls can pad a falling price and act as a kind of support. It is the vise versa for a sell wall. Its hard for the price to climb past a large 7000btc sell wall unless a couple big buyers come along, or there is plenty of collective buying volume.