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

[prof7bit]

we have yet to even touch 120

Touched it almost already

Code:

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    119.00000                                  │                                             ▒│▒▒│─
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    118.00000                                ││▒│▒▒▒  │▒│▒▒       ││ ││▒│││            ▒│ │▒▒
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[Rampion]

Well, with the last market buy I did at $116ish a few ours ago I'm now 90% in.

So.... Go bulls, go!

[samson]

Feels like someone buying all he can get "cheap", then letting the price settle again for a while.
Would make sense, if you have enough reserves to produce a "real" uptrend afterwards

Yes, buying a few thousand  'cheap' right off the orderbook will leave a void that can be filled with other asks. Then he can buy cheap again within the same price range.

It's risky as someone else could jump in with a big buy and raise the price by several $ but maybe this same guy owns a sizeable chunk of the walls around $119-$120 to keep the price down while he's buying.

It's hard to second guess these strategies but I have no doubt someone's proceeding with their plan here.

[ManBearPig]

I'm thinking $120 is this kind of wall:

[prof7bit]

I'm a little confused by the above chart. I can clearly see sell orders for 3377 BTC between $118.00 and $118.99999 on Clark Moody but nothing shows up on your chart in that area.

What does it represent ?

Its a depth chart. Its the same data that clarkmoody would show if clarkmoody would work correctly. I would not rely on clarkmoody at all for trading, it is extremely buggy and shows orders where there are no orders anymore, sometimes you even see asks lower than the highest bid and bids higher than the lowest ask.

[SlipperySlope]

The sustained rally, having broken through the resistance at $116, is now facing resistance at $120 and beyond that $125.

[SlipperySlope]

I'm a little confused by the above chart. I can clearly see sell orders for 3377 BTC between $118.00 and $118.99999 on Clark Moody but nothing shows up on your chart in that area.

What does it represent ?

Its a depth chart. Its the same data that clarkmoody would show if clarkmoody would work correctly. I would not rely on clarkmoody at all for trading, it is extremely buggy and shows orders where there are no orders anymore, sometimes you even see asks lower than the highest bid and bids higher than the lowest ask.

Clark Moody does a great job, however the Mt.Gox data feed has numerous problems that you describe. Chiefly the Mt.Gox data feed is not always consistent with regard to depth and trades.

[Ultraviolet]

I think the 120 wall gets bought for sure. Market sentiment is very different than it was pre-Dwolla drama where resistance resisted. The real test for the last 3 weeks is 125.

[michaelGedi]

meanwhile on bitstamp I doubt we're going about 115 for a long time

[Its About Sharing]

The Market Depth is jumping up nice again on MtGox. Yesterday was a great day in that respect and the jump to today is likewise good.
Yes, big if regarding manipulation, but just to put the numbers out there.

Bids at $70 are up another 15k to 145k. Highest this month. Also, buy side at $5 and $15 are climbing up.
Asks at $120 are down another 12k to 120k. Lowest this month.

100k sells are at $220. Highest level since end of April.
50k and 100k buy levels are highest in a month as well.

Manipulation to explode up or a real sign?

[Miz4r]

meanwhile on bitstamp I doubt we're going about 115 for a long time

Yeah we need more buyers on bitstamp.. where are the arbitrage bots when you need them?

[billington.mark]

looks like people are panic buying back in now the price is on the way up...

[samson]

looks like people are panic buying back in now the price is on the way up...

I don't see any panic. People have been buying in steadily since the price was about $115.

I suspect the panic buying will really start after we break $120/$121+

I just wonder if it will have enough momentum to push through $125. If it does then we're going to be in for a wild ride, again.

[oroboras]

CHAAARGEEEE!!!!

[Jaroslaw]

Hello pre 120$

[prof7bit]

Code:

120.10000     33.58015687 
120.00000   4523.48032917 
119.90000    960.47309392 
119.70000      1.34000000 
119.50000      1.42000000 
119.30000      2.84000000 
119.20000      2.84000000 
118.42152      0.01020000 

118.42148      0.01020000 
118.40000      7.17892444 
118.30000     12.06478520 
118.20000     60.85295335 
118.10000    148.13102728 
118.00000    259.70505141 
117.90000      3.12040290 
117.80000     13.42360000 
117.70000    415.29827963 

[HerrDoktor]

Bulls and Bears getting ready on the Battlefield. YES !!!

[keewee]

[Miz4r]

meanwhile on bitstamp I doubt we're going about 115 for a long time

Yeah we need more buyers on bitstamp.. where are the arbitrage bots when you need them?

Hmm just as I say this people wake up and start buying like crazy on bitstamp, up to $114.64 now.

[ChartBuddy]