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

[sarc]

These negative divergences against rises in price have been VERY VERY accurate indicators of moves down:
We have the longest one yet. I'd say the price is really wanting to adjust down but those huge buys with walls changed a bit of the natural movement.
Will be interesting to see what happens.

This one looks like a butt in the process of being hurt by lots of 'whale fire'. Chimes with reality.

[ChartBuddy]

[fr33d0miz3r]

[Dalib]

And still we have a 2.5k "bomb" at 79 and almost 9k at 80  

[Its About Sharing]

I don't understand that sell off. I saw the price bottomed at 75 and then immediately went back to 77 

[samson]

I don't understand that sell off. I saw the price bottomed at 75 and then immediately went back to 77 

Of course it did, there's almost no bid volume down to 75.5 right now.

Good luck selling anything near current price if you want to dump.

[Dalib]

I don't understand that sell off. I saw the price bottomed at 75 and then immediately went back to 77  

IAS, I think it sold well see that the price is at the top for now and he made a dump until it is under price great demand. He needed the advantage of the first signal.

If he was waiting for more signals (MACD, EMA), we'd have fallen below the with 3K sell market order.



That it was the right decision at the right time when he needed to quickly sell 3k over 75

[Its About Sharing]

I don't understand that sell off. I saw the price bottomed at 75 and then immediately went back to 77 

Of course it did, there's almost no bid volume down to 75.5 right now.

Good luck selling anything near current price if you want to dump.

I should have looked at the depth. Only 232 to $76.

And 743 to $75.50
And 1850 to $75

That  filled in awfully quick considering we were just there, no?

[Its About Sharing]

I don't understand that sell off. I saw the price bottomed at 75 and then immediately went back to 77  

IAS, I think it sold well see that the price is at the top for now and he made a dump until it is under price great demand. He needed the advantage of the first signal.

If he was waiting for more signals (MACD, EMA), we'd have fallen below the with 3K sell market order.

I have the money flow as being bottomed around 20. (http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zi1gMACDzi2gSStochzi3gMFIzi4gStochRSIzv)

I'm not sure I understand you. Are you saying it was a mis-timed sell?

[Dalib]

I don't understand that sell off. I saw the price bottomed at 75 and then immediately went back to 77  

IAS, I think it sold well see that the price is at the top for now and he made a dump until it is under price great demand. He needed the advantage of the first signal.
If he was waiting for more signals (MACD, EMA), we'd have fallen below the with 3K sell market order.

I have the money flow as being bottomed around 20.
I'm not sure I understand you. Are you saying it was a mis-timed sell?

Yes, but this is short time


See how, daily peaks and lows correspond to 15-30 min oversold and overbought (According MFI and RSI).

http://bitcoincharts.com/charts/mtgoxUSD#rg5zig30-minztgSza1gEMAzm1g10za2gEMAzm2g25zxzi1gMACDzi2gRSIzi3gMFIzv

and large waves (like break at 66) with your (daily) chart as http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zi1gMACDzi2gSStochzi3gMFIzi4gStochRSIzv

[Its About Sharing]

I sort of follow you but I hadn't been using short term periods like that.
This is a bit over my head actually 

How is the period (short or long) related to the effect on sell offs? (or buys)
I thought it didn't matter, it was all in the order book (for the most part).

[Dalib]

I sort of follow you but I hadn't been using short term periods like that.
This is a bit over my head actually  
How is the period (short or long) related to the effect on sell offs? (or buys)
I thought it didn't matter, it was all in the order book (for the most part).

I think that this makes sense for day trading (if sufficient daily volatility)



And of course, daily traders he must know: where the support and resistance is too.

[Dalib]

I did not understand earlier yesterday why someone yesterday bought 5k.
But then again I checked the RSI and MFI, and I have also seen that around 73 (72.51) was a "daily bottom" (15-30 min oversold).

By the way day trading with 3-5K BTC must be a lot of "risky entertainment"  

But also quite fast money when the daily volatility greater than 5 preferred around 10% ...

[ChartBuddy]

[🏰 TradeFortress 🏰]

Ignored.

[Its About Sharing]

Thanks Dalib, really interesting and I understand now (I do well with pictures) 

Gives me something to keep an eye on...

[gandhibt]

I sort of follow you but I hadn't been using short term periods like that.
This is a bit over my head actually  
How is the period (short or long) related to the effect on sell offs? (or buys)
I thought it didn't matter, it was all in the order book (for the most part).

I think that this makes sense for day trading (if sufficient daily volatility)



And of course, daily traders he must know: where the support and resistance is too.

That second square (SELL) is pretty tricky, you could end up selling too early and then end up getting a loss at next BUY.

[Dalib]

Thanks Dalib, really interesting and I understand now (I do well with pictures) 
Gives me something to keep an eye on...

you're welcome 

[Dalib]

I sort of follow you but I hadn't been using short term periods like that.
This is a bit over my head actually  
How is the period (short or long) related to the effect on sell offs? (or buys)
I thought it didn't matter, it was all in the order book (for the most part).

I think that this makes sense for day trading (if sufficient daily volatility)
And of course, daily traders he must know: where the support and resistance is too.

That second square (SELL) is pretty tricky, you could end up selling too early and then end up getting a loss at next BUY.

Exactly when he react to the first signal, you can throw away a lot of percent profit.
But I think now it was clear with 2.5k "bomb" at 79 and almost 9k "resistance" at 80 ...

however, it will be interesting how low the price gets now!

?



He probably knew also, that we can't stay long time in this "mini triangle".  


We must go up above 78.5 or lower than 76 - 77, otherwise, the volume decreases and we will wait for further developments.  

[ChartBuddy]