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

[ElectricMucus]

Somebody is playing a wall game over at btc-e first it was a buywall at 109 now its an askwall at the same place.

Ha! that's brilliant, seems like there should be a bouncing white dot going between the two walls!

No the previous one was sold into and partly removed.

[wonkytonky]

guys, I'm a noob, where do you see these walls and stuff? thx

http://bitcoin.clarkmoody.com/

Welcome Tycoon! Congratulations on finding one of the most effective hedges against world financial collapse! The more the merrier!

thx, but pls explain what is those columns? what is the "sum" column.

0.2   0.1524   109.08001
29.0   28.8592   109.07000   sum = 28.8592 + 0.1524 (the previous one)
29.1   0.1000   109.06900   sum is 0.1000 +previous sum
29.6   0.5000   109.05060    ...
30.6   0.9758   109.00001
30.7   0.1000   108.95

bid= what someone is willing to pay  for a bitcoin
ask = what someone is asking for  bitcoin
volume = how many bitcions

sum(bitcoin)    volume(bitcoin)      bid($)
29.0                28.8592                 109.07000

this means someone is willing to buy ..28.8592 bitcoins  at a price of 109.07$/bitcoin   

[sarc]

Somebody is playing a wall game over at btc-e first it was a buywall at 109 now its an askwall at the same place.

Ha! that's brilliant, seems like there should be a bouncing white dot going between the two walls!

No the previous one was sold into and partly removed.

I guess it's the delay or something:

[lucas.sev]

It seems like everyone of "this time its different" preachers left. Sad times.

[Le Happy Merchant]

It seems like everyone of "this time its different" preachers left. Sad times.

Not gone, just quiet. Volume comes with something to point to.

[Coinseeker]

The walls at 105-106 remain consistent but more noteably, the wall at 100 has not budged.  If we rip through 100, panic will probably set in and who knows where it stops.  But much like after the Dwolla news, there was tons of momentum heading into 100 and it just stopped.  If I'm betting and I am, I say we're going into double digits some time next week but, there is the possibility that we could bounce off 100 and see a rise back up to the 110-115 range.  It's possible.  

I think it will bounce, I don't see it going straight through $100.  That level will have to be tested once or twice at least.

Inclined to agree.  Anything is possible but I think this is a more likely scenario.  Much like we're seeing at 105-106.  If it bounces off for awhile then falls, the phycological break for many coming through 100, could be severe.  Could trigger a massive freefall.

[wonkytonky]

It seems like everyone of "this time its different" preachers left. Sad times.

Not gone, just quiet. Volume comes with something to point to.

connected users: 3216
on bitcoinity..

thats a lot compared to last weeks.; when it was always below 3000 even during weekdays.. only when selloffs happend then the amount got to 3400 something..

maybe the bidwall attracts people again.. too see what will happen..   : will it be broken or will we break out to the sky

edit: there must be massive amount of fiat sitting there.... unless people realy left gox..  but i realy doubt that..    as usual gox does not communicate well.. but stays strong some how lol

[nmersulypnem]

It seems like everyone of "this time its different" preachers left. Sad times.

Not gone, just quiet. Volume comes with something to point to.

connected users: 3216
on bitcoinity..

thats a lot compared to last weeks.; when it was always below 3000 even during weekdays.. only when selloffs happend then the amount got to 3400 something..

maybe the bidwall attracts people again.. too see what will happen..   : will it be broken or will we break out to the sky

edit: there must be massive amount of fiat sitting there.... unless people realy left gox..  but i realy doubt that..    as usual gox does not communicate well.. but stays strong some how lol

Where do you see that count?

[wonkytonky]

It seems like everyone of "this time its different" preachers left. Sad times.

Not gone, just quiet. Volume comes with something to point to.

connected users: 3216
on bitcoinity..

thats a lot compared to last weeks.; when it was always below 3000 even during weekdays.. only when selloffs happend then the amount got to 3400 something..

maybe the bidwall attracts people again.. too see what will happen..   : will it be broken or will we break out to the sky

edit: there must be massive amount of fiat sitting there.... unless people realy left gox..  but i realy doubt that..    as usual gox does not communicate well.. but stays strong some how lol

Where do you see that count?

you cannot see the amount of fiat sitting on gox .. if thats what you mean.. but if you look at history .. you can check the volumes during the selloff days..  and thats big.

[samson]

The walls at 105-106 remain consistent but more noteably, the wall at 100 has not budged.  If we rip through 100, panic will probably set in and who knows where it stops.  But much like after the Dwolla news, there was tons of momentum heading into 100 and it just stopped.  If I'm betting and I am, I say we're going into double digits some time next week but, there is the possibility that we could bounce off 100 and see a rise back up to the 110-115 range.  It's possible.  

I think it will bounce, I don't see it going straight through $100.  That level will have to be tested once or twice at least.

Inclined to agree.  Anything is possible but I think this is a more likely scenario.  Much like we're seeing at 105-106.  If it bounces off for awhile then falls, the phycological break for many coming through 100, could be severe.  Could trigger a massive freefall.

All the more reason to sell right now before we enter the first freefall stage.

I think it will bounce off $100 several times on the way down and probably a few times on the way back up again however long that takes.

[Odalv]

you cannot see the amount of fiat sitting on gox ..

.. but few can see (insiders)

[Coinseeker]

All the more reason to sell right now before we enter the first freefall stage.

I think it will bounce off $100 several times on the way down and probably a few times on the way back up again however long that takes.

Probably good advice for most.  I'm a gambler though and see lots of money to be made off those bounces.  Guess we'll see if my trading skills are as good as my rhetoric.   

[World]

Today prices are well buried under 110$, with quite no range.
I should admit this is surprising me, even with the low WE volume i was expecting price to be able to move in the 107-112 range.
I think that means the actual sentiment on BTC is almost totally negative.
It's not rare that situations like this lead to surprises (=short-term inversion).

What di you think about monday?

I guess, very soon BitInstant will open market for the UK and Australia.
http://www.youtube.com/watch?v=sqzubpLxmSQ#t=19m33s

[Abandon]

https://www.tradingview.com/e/c5CZeJOb/ This is not investment or trading advice.

[Coinseeker]

https://www.tradingview.com/e/c5CZeJOb/

Awesome charts bro.  Much appreciated. 

[ChartBuddy]

[SlipperySlope]

https://www.tradingview.com/e/c5CZeJOb/ This is not investment or trading advice.

Thanks for annotating and commenting on your charts. With so many indicators present I like when you highlight how you interpret them.

[Abandon]

The 1H chart is a little worrisome, it might go down to 107 before it becomes oversold.

[lucas.sev]

The 1H chart is a little worrisome, it might go down to 117 or 116 before it becomes oversold.

What do you mean "down" to 117? Aren't we at 108 now?

[Abandon]

The 1H chart is a little worrisome, it might go down to 117 or 116 before it becomes oversold.

What do you mean "down" to 117? Aren't we at 108 now?

Sorry, 107.