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

[Miz4r]

It's Friday rally day again?

[ManBearPig]

Eat them up, yum yum.

[fitty]

Bulls: We're hungry! NOMNOMNOM

[TheKoziTwo]

https://www.youtube.com/watch?v=h-LbvFckptY

[MoreFun]

There was just an interesting ask wall of 130BTC at 122.75 on bitstamp. It did not last long...
But interesting because it gave me the chance to rebuy the coins I foolishly sold at 123.0 yesterday. Still a small loss after fees, but almost nothing.  

I am all in again  

It was cool to eat that wall Actually it did last long for so good price - 1 minute.

[ManBearPig]

Has anyone else noticed that when there's memes or GIFs in this thread, that the their implied predictions more often than not tend to be dead wrong, or at least mildly wrong..?

I wonder if that's something to do with the emotional traders, who are not logical and robotic enough, that resort to unrelated past experiences to justify their beliefs. .

Alas, let's see what tomorrow holds!

I think they're just meant to be sarcastically ironic and funny, GIFs aren't that deep

Thank you. Someone needs a spliff...

[icekiss]

bitstamp:
Sliding ask wall at 124.57$ broken through! (It started around 124.40$, ended at 124.57$, and varied in height but was up to 1000BTC tall, and if I count restockings, I'd guess between 1500BTC and 2000BTC overall.)

1200BTC to reach 126$, which means that the spread between bitstamp and mt.gox is growing again, bitcoins can't be bought up fast enough.

[ardana123]

Why is volume on gox so low though? Last week we still had 100k+ volume

[Its About Sharing]

https://www.youtube.com/watch?v=h-LbvFckptY

Gotta love it...


Unfortunately, this video is not available in Germany because it may contain music for which GEMA has not granted the respective music rights.

[MickeyT2008]

Why is volume on gox so low though? Last week we still had 100k+ volume

Some of the low volume has to be because although the price is climbing it isn't fluctuating much, this means that with Mt Gox's commission there's little to gain by daytrading at the moment.

Edit:  Daytrading is risky right now too because you could easily sell, then get left behind and have to buy back for more than you sold for.

[Miz4r]

Buy and hold does seem like the best strategy right now.. until we get into a new volatile phase again.

[icekiss]

wall report:
mt.gox: 129.0$ getting eaten fast (400BTC so far)
bitstamp: 330BTC bid wall at 124.72$ just appeared. No interest in touching it, just buys eating away at the ask walls.

[Its About Sharing]

Why is volume on gox so low though? Last week we still had 100k+ volume

People are moving off of Gox since the DHS thing, is my guess. So, volume is picking up elsewhere.

[dexX7]

Haha those Pacman pictures are brilliant.

For high frequency trading we would need faster exchanges, I think. Order execution and data propagation at Bitstamp takes more than 5 seconds.

Anyway. Highest high since 2nd march may!



Ask/Bids at Gox:



Strange pattern, but I guess people are leaving, but those who stay, see a higher price.

[ManBearPig]

Haha those Pacman pictures are brilliant.

For high frequency trading we would need faster exchanges, I think. Order execution and data propagation at Bitstamp takes more than 5 seconds.

Anyway. Highest high since 2nd march!

Ask/Bids at Gox:

Strange pattern, but I guess people are leaving, but those who stay, see a higher price.

2nd May surely?!

[dexX7]

Haha those Pacman pictures are brilliant.

For high frequency trading we would need faster exchanges, I think. Order execution and data propagation at Bitstamp takes more than 5 seconds.

Anyway. Highest high since 2nd march!

Ask/Bids at Gox:

Strange pattern, but I guess people are leaving, but those who stay, see a higher price.

2nd May surely?!

Oh sorry. Yeah of course.

And there goes 125. It's nice to see the difference between Gox and Bitstamp vanish.

[Miz4r]

Ask/Bids at Gox:



Strange pattern, but I guess people are leaving, but those who stay, see a higher price.

The ask sum line looks like a dead cat bounce lol.

[icekiss]

bitstamp is really racing today: broken through 125$ (no real walls, but about 500BTC in orders). 670BTC left to 126!

The ask wall at 127.72$ simply got pulled again because nobody bought and price moved away. Completely senseless, why not just buy into the walls if you are placing it that close to them? 

[Its About Sharing]

I'd like to see us stay above $127 or so, as that seems to be a support/resistance level from April 20-22. Would much rather be sitting on it that pushing at it.  

Next resistance level I see is that $135 range from April 3, 4 and 27.

[phorensic]

Why is volume on gox so low though? Last week we still had 100k+ volume

People are moving off of Gox since the DHS thing, is my guess. So, volume is picking up elsewhere.

Yep.  See blockchained.com graphs above to confirm.  Although in the all-time scale it seems like a tiny blip.