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

[Odalv]

Don't think this is happening. No way he is dumping his coins on a Sunday, I would wait until at least Monday, and I won't be surprised if the dump happens on Wednesday. On a weekday that wall has a real chance to trigger a rally.

BTC market is really a joke, $2M usd and a few thousands coins are really enough to move the market at your will, I guess that's why we have so many traders posting how "fun" is BTC when compared to "real" stock markets and "mainstream" currency trading

If you know simply math then
1. 11M btc exists
2. if somebody can buy 15k btc then there is NOT more than 11M/15k = 734 traders trading this amount (700 traders are not mainstream)
.
.
.
3.  80% bitcoiners hold bitcoin for long ->  there are maximum 74 traders what can afford sell 15k btc

[Rampion]

Oh right, walls...

So, about the 2 millions wall, when is it going to be lifted?

It would be nice to see someone drunk and playful enough to put a BTC300k wall just $5 above the $2M wall, just to test who's penis is bigger

But it's a pity, because there are many many many many many more guys with $2M than with BTC300K

[Rampion]

Don't think this is happening. No way he is dumping his coins on a Sunday, I would wait until at least Monday, and I won't be surprised if the dump happens on Wednesday. On a weekday that wall has a real chance to trigger a rally.

BTC market is really a joke, $2M usd and a few thousands coins are really enough to move the market at your will, I guess that's why we have so many traders posting how "fun" is BTC when compared to "real" stock markets and "mainstream" currency trading

If you know simply math then
1. 11M btc exists
2. if somebody can buy 15k btc then there is NOT more than 11M/15k = 734 traders trading this amount (700 traders are not mainstream)
.
.
.
3.  80% bitcoiners hold bitcoin for long ->  there are maximum 74 traders what can afford sell 15k btc

Yet 15K coins are less than $2M, thus BTC is so tiny it's still a peanut... It's very easy and cheap to become a fundamental force of the market, look at the Winklevoss, two guys just bought 1% of the actual BTC supply for an amount of fiat that for them means nothing. Extrapolate that to the total amount of USD circulating. Crazy shit. BTC it's still in a very early stage,.

[Awhut]

All this manipulation talk is getting boring/old.

Have you guys consider for a split second that somebody might really want to sell those coins?

I'm confused, if this is a manipulation attempt, then, when the manipulator places his selling order, will you guys also say it's a manipulation move? Or is it a legitimate sell?
Also, all this work pushing the price up, then he, according you guys' manipulation theories, is able to sell at higher price. I hate to burst your bubbles, but if removes the wall there is no market depth to execute his selling orders at whatever prices he has been trying to push to.

Also, if you have more money than what is necessary to manipulate a market, then  you can only go for peanuts anyway. Market manipulations usually have strategic/political goals behind. Sinking a small player, build or destroy confidence on an niche, media access, etc.   Manipulating to capitalize doesn't really work, if you are the biggest player then you are the most affected by your manipulation.

Just my 2 cents.

That wall will either be consumed (even after a couple of moves) or the money will be thrown directly at executable prices driving the market up. I think the chances of it being just removed followed by a price drop, are low.

Can someone who knows more than me please answer this? Zemario provides the most logical argument for this wall I have read today.

[arepo]

All this manipulation talk is getting boring/old.

Have you guys consider for a split second that somebody might really want to sell those coins?

I'm confused, if this is a manipulation attempt, then, when the manipulator places his selling order, will you guys also say it's a manipulation move? Or is it a legitimate sell?
Also, all this work pushing the price up, then he, according you guys' manipulation theories, is able to sell at higher price. I hate to burst your bubbles, but if removes the wall there is no market depth to execute his selling orders at whatever prices he has been trying to push to.

Also, if you have more money than what is necessary to manipulate a market, then  you can only go for peanuts anyway. Market manipulations usually have strategic/political goals behind. Sinking a small player, build or destroy confidence on an niche, media access, etc.   Manipulating to capitalize doesn't really work, if you are the biggest player then you are the most affected by your manipulation.

Just my 2 cents.

That wall will either be consumed (even after a couple of moves) or the money will be thrown directly at executable prices driving the market up. I think the chances of it being just removed followed by a price drop, are low.

Can someone who knows more than me please answer this? Zenmario provides the most logical argument for this wall I have read today.

i agree with zenmario. 'market manipulation' is usually just large players performing their best action given market conditions. it's just as 'fair' as smaller sums attempting similar tricks on smaller scales.

[Odalv]

Can someone who knows more than me please answer this? Zemario provides the most logical argument for this wall I have read today.

Do you want buy HIGH ? Do you want sell LOW ?
Anybody who want buy high and sell low ?

Everybody want to buy low sell high, ... in zero-sum game it is impossible. 99% will lose 1% will make profit.

[Frozenlock]

1% being MtGox.

[Odalv]

1% being MtGox.

1% will make profit, MtGox will make profit(maybe 10%), 99% will lose :-)

[Rampion]

All this manipulation talk is getting boring/old.

Have you guys consider for a split second that somebody might really want to sell those coins?

I'm confused, if this is a manipulation attempt, then, when the manipulator places his selling order, will you guys also say it's a manipulation move? Or is it a legitimate sell?
Also, all this work pushing the price up, then he, according you guys' manipulation theories, is able to sell at higher price. I hate to burst your bubbles, but if removes the wall there is no market depth to execute his selling orders at whatever prices he has been trying to push to.

Also, if you have more money than what is necessary to manipulate a market, then  you can only go for peanuts anyway. Market manipulations usually have strategic/political goals behind. Sinking a small player, build or destroy confidence on an niche, media access, etc.   Manipulating to capitalize doesn't really work, if you are the biggest player then you are the most affected by your manipulation.

Just my 2 cents.

That wall will either be consumed (even after a couple of moves) or the money will be thrown directly at executable prices driving the market up. I think the chances of it being just removed followed by a price drop, are low.

Can someone who knows more than me please answer this? Zenmario provides the most logical argument for this wall I have read today.

i agree with zenmario. 'market manipulation' is usually just large players performing their best action given market conditions. it's just as 'fair' as smaller sums attempting similar tricks on smaller scales.

You just don't put a $2M wall on a market so tiny as BTC. If you are really interested in buying $2M of BTC, you buy OTC to secure an exchange rate in order to avoid huge fluctuation, or you simply trade smaller amounts at different price points. Otherwise you are a crazy fool who burns his money. You are really implying there is a guy that was hoping to buy $2M in BTC at $100, then he saw price go up and he placed his $2M a 10% higher, then tomorrow he will probably place it a 20% higher... No way. And these are no smaller guys acting, there is a $2M wall that appeared suddenly on the order book (blockchained) and that moved from $100 to $110 pushing the price up.

There is really no way that a guy suddenly received his $2M at Gox on a Sunday and decided to place it's hugenbid  $5 below spot to see if it gets filled... And all of this after a major crash.

Zenmario: you are serious about saying that is unlikely that the wall gets removed if the price goes down? Man, huge walls vanish into thin air every day as price approaches them, and this happens both on the bid and the ask side. Just check what happened before the weekend, only wall that resisted was at $80, all the others weren't eaten, 80% of them just vanished

[batcoin]

My guess is it's some asshole country bumpkin who just won some lottery money and doesn't know any better. He heard about the Murican Bitcoin during a commercial while drunk off his Milwaukee's Best watching "Ow! My Ballz!" and just plopped some of his winnings on Gox without any further clue.

[Hawker]

My guess is it's some asshole country bumpkin who just won some lottery money and doesn't know any better. He heard about the Murican Bitcoin during a commercial while drunk off his Milwaukee's Best watching "Ow! My Ballz!" and just plopped some of his winnings on Gox without any further clue.

"Idiocracy" is probable the best forcast of our future ever made

[batcoin]

My guess is it's some asshole country bumpkin who just won some lottery money and doesn't know any better. He heard about the Murican Bitcoin during a commercial while drunk off his Milwaukee's Best watching "Ow! My Ballz!" and just plopped some of his winnings on Gox without any further clue.

"Idiocracy" is probable the best forcast of our future ever made

I agree.

Country bumpkins... Or rather Ow! My Ballz! I suspect it will be entertaining for a number of folks round these parts.

[SAQ]

The wall ain't going anywhere guys except for a buy market order.

I don't see what's so unreasonable about wanting to buy at what seems to be the current market price. Would putting 5k on 115, 5k on 110 and 5k on 105 seem less menacing? Can he really put 1k from 115 to 110 and that somehow would seem less scaring?

How exactly can this guy buy his coins except for out of the order books and even then you might not know how to buy them outside the order book.

He already sold 5k by the way. The wall was 21k on 100. It was taken off. The price went up through a market order to 118 from 108, then the reduced wall of 15 was put on 110.

This guy wants to buy coins. Sell him some.

[cerebellum]

4h EMAs just crossed on clarkmoody. I guess that means it's at least going up a little further, EMA bouncing off doesn't seem too likely.

[Rampion]

Have you guys consider for a split second that somebody might really want to sell those coins?

Yes, we're considering that somebody is willing to sell coins, and thus placing a fake bid wall to take the price up

Also, all this work pushing the price up, then he, according you guys' manipulation theories, is able to sell at higher price. I hate to burst your bubbles, but if removes the wall there is no market depth to execute his selling orders at whatever prices he has been trying to push to.

There are already $740k in front of his wall (from $110 to $114.6), that's a nice depth, enough to dump +BTC6,000 significantly higher than when the bid wall did not exist.. And there is another $1M sitting between the $110 wall to $105. That depth is built around the wall that creeped up from $100 to $110 after a crash to $80.

Also, if you have more money than what is necessary to manipulate a market, then  you can only go for peanuts anyway. Market manipulations usually have strategic/political goals behind. Sinking a small player, build or destroy confidence on an niche, media access, etc.   Manipulating to capitalize doesn't really work, if you are the biggest player then you are the most affected by your manipulation.

Making a 10% or 20% profit because of your successful manipulation is never peanuts, never. You set the trends and make smaller players to follow them. This happens in all the markets - in the bigger "real world" markets you have JP Morgan, Goldman Sachs and the likes - in BTC an individual can be a "market mover" at this stage.

[wachtwoord]

My guess is it's some asshole country bumpkin who just won some lottery money and doesn't know any better. He heard about the Murican Bitcoin during a commercial while drunk off his Milwaukee's Best watching "Ow! My Ballz!" and just plopped some of his winnings on Gox without any further clue.

If so he makes better use of his winnings than most (most spend it on trivialities)

[Geist]

My guess is it's some asshole country bumpkin who just won some lottery money and doesn't know any better. He heard about the Murican Bitcoin during a commercial while drunk off his Milwaukee's Best watching "Ow! My Ballz!" and just plopped some of his winnings on Gox without any further clue.

If so he makes better use of his winnings than most (most spend it on trivialities)

Those are the ones you hear about. There are also many you don't hear about and, considering they kept quiet, might be doing something good with the money(like starting businesses).

[Frozenlock]

Sweet! Now I can see "nothing happening" in 3d! 

[oda.krell]

This wall @110 is making me nervous.... just sitting there, doing nothing... silently judging me... mocking me.

I know what you're up to wall, I'm onto you. You can't fool me, wall. Nobody can fool me. Not after what happened last time.

Just do something already, wall, don't just sit there!!!!

'k. Time to go to bed.

[michaelGedi]

talk to the wall, because the err, wall ain't listening?