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

[icekiss]

bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...

[Rampion]

bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...

400BTC is such a small amount that I wouldn't even call that a wall. Maybe a mini-wall.

But I get that Bitstamp and Gox standards are different.

[icekiss]

bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...

400BTC is such a small amount that I wouldn't even call that a wall. Maybe a mini-wall.

But I get that Bitstamp and Gox standards are different.

believe me, 400BTC counts as a (small) wall on bitstamp...  

200BTC is a miniwall, 1000BTC is a really big one 

[Rampion]

bitstamp:
Wall got bought up (well, 356BTC out of 400BTC anyway, so its not a wall anymore).
Would not have thought that would happen so fast, with all the buying pressure...

400BTC is such a small amount that I wouldn't even call that a wall. Maybe a mini-wall.

But I get that Bitstamp and Gox standards are different.

believe me, 400BTC counts as a (small) wall on bitstamp...  

Well, be happy for the buyer. He managed to buy 400BTC without having to move his wall upwards by a single cent. I love that when I'm buying.

[Its About Sharing]

7 days high broken again.

Next milestone, breaking the 30d high ($166.43). That should take a while, but with BTC you never know. Breaking $130 with nice volume could trigger some nice panic buys

If you look back at the top of the candles on April 20, 21, 22nd, (http://bitcoin.clarkmoody.com/) that is exactly where we sit right now. And that was right before a move up. I would really like for us to be around $130 or so and sitting on that support, rather than below it.

IAS

[icekiss]

Well, be happy for the buyer. He managed to buy 400BTC without having to move his wall upwards by a single cent. I love that when I'm buying.

He did move the wall up from 123.5 to 124.0, with the bid wall standing at 124.15. So I guess it was a fair offer and both buyer and seller can be happy about a deal well struck.  

[kiko]

Agreed, moonshot bids for $20 coins don't really count. I keep meaning to create an index that divides each bid/ask by the % distance from the current MMR. I think it would be much more insightful. I just can't square the maths to adjust for the fact that bids only differ by 100% but asks can be many 1000% higher. Anyone know how to properly adjust for that?

Simple, just base it on the logarithm of the price.

Thanks, but I think I've got it now. It's simpler than that.

One re-bases the order book so MMR is 1. lets call it $125. A $100 dollar bid at $10 dollars gets weighted by 0.08. An equally weighted ask of $100 would be priced at $1562 (the price at which current MMR represents only 8%.)

So who do I need to beg for historical daily snapshots of the full depth API?

https://bitcointalk.org/index.php?topic=88054

I'll pitch in half the 200btm if you share it with me.

Bingo. Thanks. I almost missed that reply. I'll get in touch with the dude after some tests on the old data.

As an aside; I can't help but feel I'm re-inventing the wheel here though. Brokers have had Level 2 data for years, why don't we have common TA indicators for depth like we do for Volume and Price. Am I missing something? Is this kind of thing common in CFA textbooks?

[icekiss]

I am seeing a very interesting technique being used on bitstamp right now:

Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.

Pretty slick operator, if you ask me...

[kiko]

I am seeing a very interesting technique being used on bitstamp right now:

Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.

Pretty slick operator, if you ask me...

If you could see the pattern with your bare eyes, it's hardly subtle. HFTs would eat this kind of obvious pattern for breakfast in real markets, the price would run constantly just out of reach of all but the highest bid, knowing they had a big fish on the line. Just my 0.02

[icekiss]

I am seeing a very interesting technique being used on bitstamp right now:

Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.

Pretty slick operator, if you ask me...

If you could see the pattern with your bare eyes, it's hardly subtle. HFTs would eat this kind of obvious pattern for breakfast in real markets, the price would run constantly just out of reach of all but the highest bid, knowing they had a big fish on the line. Just my 0.02

I don't think the bots on our exchanges are that sophisticated yet...

But you are right, there are still obvious ways to improve on it: don't place as many orders in advance, and vary the spacing, timing and amount more, to make it look disconnected.

Still, it is working, and he is doing it at the right point of time, so he is slick enough.  

Edit: here you can see him placing new sell orders:

[samson]

I am seeing a very interesting technique being used on bitstamp right now:

Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.

Pretty slick operator, if you ask me...

You have to ask yourself why someone's so desperate to sell off a large amount of Bitcoin.

[MickeyT2008]

Bye bye $128 wall

[icekiss]

You have to ask yourself why someone's so desperate to sell off a large amount of Bitcoin.

Looking at the buy pressure on both bitstamp and mt.gox - not enough for me to follow his lead, not even short term.

And yes, ask wall at 128.0$ on mt.gox just got eaten! (850BTC)

[smoothie]

Have you bought your bitcoin yet as the choo choo leaves the station?

Get it now...

[ManBearPig]

That spike was no doubt instigated by the transfer of most of my coins into cold storage.

Bitcoin's way of saying to me, "Oh so you don't want to trade eh?"

That wall at $130 is being eroded.

[kiko]

I am seeing a very interesting technique being used on bitstamp right now:

Instead of placing a huge ask wall, someone is setting down ~40BTC orders spaced 0.01 apart. But only a few at once, and filling them up as they get eaten.
This means that the upward trend does not get broken, it just slows down to a crawl. And the person gets to sell all of his BTC at high prices, because the confidence of the buyers is unshaken.

Pretty slick operator, if you ask me...

You have to ask yourself why someone's so desperate to sell off a large amount of Bitcoin.

CoinBase and BitPay are the ETF's of the bitcoin world. Merchants throw them a lot of bitcoin and they need to hedge that risk and pay back out in USD.

[Rampion]

Have you bought your bitcoin yet as the choo choo leaves the station?

Get it now...

(man, we used to post this pic when we had a 30% increase in one day, but....)

[Rampion]

99€ is a nice figure.

[ChartBuddy]

[Ivanhoe]

Murica says: "Goodmorning bitcoin!"