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

[samson]

What an incredible rally this was. Moved back to $104 with a powerful volume of ~5k coins.

I can feel the bullish market. 

A good effort by whoever tried but it failed. Down we go.

Pretty big wall at $96.01, $1M in total. And its money that it was just added to the order book (check blockchained chart), not money already present in it that consolidated at that point.

Interesting times. Much more interesting than in 2011 I'd say.

Walls in bitcoin world have a peculiar tendency to disappear

Yes, looks like it's gone already

[lucas.sev]

What an incredible rally this was. Moved back to $104 with a powerful volume of ~5k coins.

I can feel the bullish market. 

A good effort by whoever tried but it failed. Down we go.

Pretty big wall at $96.01, $1M in total. And its money that it was just added to the order book (check blockchained chart), not money already present in it that consolidated at that point.

Interesting times. Much more interesting than in 2011 I'd say.

Walls in bitcoin world have a peculiar tendency to disappear

Yes, looks like it's gone already

I really liked the 16k wall at 95. It appeared and then 30 seconds later a buy was executed that took us to 110

[sarc]

A few lines of evidence say it's coming, nothing but blind hope to say it's not, I say : Baaaaa

Evidence? LOL. You only have blind hope yourself. We'll see, you keep your fiat and I'll keep my coins.

We define evidence and hope differently, a few of the highlights:

2 month volume chart:



nothing to see here.

updated chart, dashed line is extrapolated - in case you missed it, the price is still going down...

[Rampion]

What an incredible rally this was. Moved back to $104 with a powerful volume of ~5k coins.

I can feel the bullish market. 

A good effort by whoever tried but it failed. Down we go.

Pretty big wall at $96.01, $1M in total. And its money that it was just added to the order book (check blockchained chart), not money already present in it that consolidated at that point.

Interesting times. Much more interesting than in 2011 I'd say.

Walls in bitcoin world have a peculiar tendency to disappear

Yes, looks like it's gone already

I still see $1.03M at $96. And $1M of "new" money was added today to the order book. To give some context, that amount is the total fiat sitting at Bitstamps order book.

It may be a "fake" wall, but lately we have not seen many of those. We'll see. Interesting times nevertheless.

[BitPirate]

What an incredible rally this was. Moved back to $104 with a powerful volume of ~5k coins.

I can feel the bullish market. 

A good effort by whoever tried but it failed. Down we go.

Pretty big wall at $96.01, $1M in total. And its money that it was just added to the order book (check blockchained chart), not money already present in it that consolidated at that point.

Interesting times. Much more interesting than in 2011 I'd say.

Walls in bitcoin world have a peculiar tendency to disappear

Still good, it gives us a ballpark of what money people have on the sidelines. Sure, some is manipulation by sellers, but most are real.

[BitPirate]

We define evidence and hope differently, a few of the highlights:

Nice charts, but "evidence"? They show what we all know: it's been going down. Volume has been low. We know.

It's not evidence of future performance. 

The time to buy in is the lows of a bear market when everyone is crying scared. Looking around this thread, we can't be far off.

[sarc]

We define evidence and hope differently, a few of the highlights:

Nice charts, but "evidence"? They show what we all know: it's been going down. Volume has been low. We know.

It's not evidence of future performance. 

The time to buy in is the lows of a bear market when everyone is crying scared. Looking around this thread, we can't be far off.

It seems we don't define it differently, you just don't know what it is.

[Jozzaboy]

We define evidence and hope differently, a few of the highlights:

Nice charts, but "evidence"? They show what we all know: it's been going down. Volume has been low. We know.

It's not evidence of future performance. 

The time to buy in is the lows of a bear market when everyone is crying scared. Looking around this thread, we can't be far off.

A good 80% of my allocated Bitcoin investment is in actual Bitcoins so it's not going to grow just yet. Once I sell all my Bitcoins, we will break 266 within a week.  

[Its About Sharing]

What an incredible rally this was. Moved back to $104 with a powerful volume of ~5k coins.

I can feel the bullish market.  

I notice that the volume going up takes much more than the volume going down. It seems like it takes more to make it go up than to make it go down.
This doesn't exactly make sense if you are watching the market depth. There, you can see there are plenty of buys below the price. But it isn't adding up when I watch the price move (relative to say chartbuddy).
Would this just be a reflection of the bearish nature these days?

edit - Guess I should add that market order sells or limit orders coming in would be the reason (jumping over those on the books)...

[Rampion]

A bullish PPT from a speaker in the bankers congress about Bitcoin and virtual currencies held yesterday: http://globalforumljd.org/docs/events/061413/061413_ppt_kobar.pdf

[wachtwoord]

We define evidence and hope differently, a few of the highlights:

Nice charts, but "evidence"? They show what we all know: it's been going down. Volume has been low. We know.

It's not evidence of future performance. 

The time to buy in is the lows of a bear market when everyone is crying scared. Looking around this thread, we can't be far off.

It seems we don't define it differently, you just don't know what it is.

Funny, your post made me think that about you ...

[sarc]

We define evidence and hope differently, a few of the highlights:

Nice charts, but "evidence"? They show what we all know: it's been going down. Volume has been low. We know.

It's not evidence of future performance. 

The time to buy in is the lows of a bear market when everyone is crying scared. Looking around this thread, we can't be far off.

It seems we don't define it differently, you just don't know what it is.

Funny, your post made me think that about you ...

There are none so blind...

[420]

Don't Panic. 420's going to take a little dump

[Miz4r]

A few lines of evidence say it's coming, nothing but blind hope to say it's not, I say : Baaaaa

Evidence? LOL. You only have blind hope yourself. We'll see, you keep your fiat and I'll keep my coins.

We define evidence and hope differently, a few of the highlights:

2 month volume chart:



nothing to see here.

updated chart, dashed line is extrapolated - in case you missed it, the price is still going down...

You seriously believe this is evidence? I can see it's evidence that the price has been going down the past couple of weeks, but anyone can see that by just looking at a simple chart. But this is hardly evidence that the future price is going to go further down. It could be that the downward trend continues, but then again it could not. There's no clear evidence either way. We hit a pretty hard wall at 90 earlier, and yesterday and today the price could not even stay below 100 with a very thin ask side. Bid sum keeps increasing, while ask sum is stagnant or slowly decreasing. I don't know, I can definitely smell the fear around here, that's the only thing I am certain of. Your 'evidence' is surely not very convincing to me.

[sarc]

A few lines of evidence say it's coming, nothing but blind hope to say it's not, I say : Baaaaa

Evidence? LOL. You only have blind hope yourself. We'll see, you keep your fiat and I'll keep my coins.

We define evidence and hope differently, a few of the highlights:

2 month volume chart:



nothing to see here.

updated chart, dashed line is extrapolated - in case you missed it, the price is still going down...

You seriously believe this is evidence? I can see it's evidence that the price has been going down the past couple of weeks, but anyone can see that by just looking at a simple chart. But this is hardly evidence that the future price is going to go further down. It could be that the downward trend continues, but then again it could not. There's no clear evidence either way. We hit a pretty hard wall at 90 earlier, and yesterday and today the price could not even stay below 100 with a very thin ask side. Bid sum keeps increasing, while ask sum is stagnant or slowly decreasing. I don't know, I can definitely smell the fear around here, that's the only thing I am certain of. Your 'evidence' is surely not very convincing to me.

Of course it's evidence. You're misrepresenting it, which says a lot in itself.

[Miz4r]

No that's not evidence. You're being silly.

[IG0BR0KE]

And what about that? this is not an evidence for you???


https://www.tradingview.com/x/at95NFT5/

[micalith]

We define evidence and hope differently, a few of the highlights:

Nice charts, but "evidence"? They show what we all know: it's been going down. Volume has been low. We know.

It's not evidence of future performance.  

The time to buy in is the lows of a bear market when everyone is crying scared. Looking around this thread, we can't be far off.

<sheepishly returns after large fail>

Don't know about the low of the bear market, but I do think that a lot are scared of a repeat weekend dump and this is capping the price for now, and some have probably sold in anticipation of it - a dangerous game
I agree with eurotrash that this it is unlikely we see a repeat tonight, but clearly I am guessing.
If we don't, I would expect a rally next week as people buy back/regain a bit of confidence. The dumper clearly busted a few people up. He would be a fool to smack the market again unless he really wants to destroy confidence and has the ammo to do it.
That said, I think there is still an overhang of unsold coins capping any strong rally

I'm expecting the Sunday dumper to dump a day or two later after there's been a 'no Sunday dump, yay' rally

[Miz4r]

Instead of evidence you people really should talk about probabilities or indications instead. Evidence is a way too strong word to use when trying to predict the behaviour of a market.

[sarc]

And what about that? this is not an evidence for you???

Strictly speaking, yes it's evidence, but it's also only 2 points on a chart....