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

[joesmoe2012]

hmmmmm....still waiting on $105....

Maybe a few more whale market orders :p

[Abandon]

Up.

[ChartBuddy]

[Loozik]

Up.

Not yet, young Padawan.

[ChartBuddy]

[Its About Sharing]

Lawl bear toss.

Translation?

http://www.urbandictionary.com/define.php?term=Bear%20toss

What the heck, look at these examples given:

Bear toss

noun: a new market term that describes an argument or action that directly affects the market price positively.

A successful bear toss this morning by a new ASIC developer brought bitcoin's market price up 20%.

Before leaving Wikileaks, Julian Assange made a failed attempt at a bear toss by claiming that the US government was supporting bitcoin.

I don't get the term "bear toss" though, as it should be "bull toss" but perhaps they missed...

[notme]

No, we will escape when they lose patience and start to buy in.

You forgot the other option, which is holders get scared and start to sell out.

scared of what? Long term investment is bullish still, there is no reason to be scared.

Yep.  Most of the newbies have been spooked out already, and this ain't shit for us old hats.

[ChartBuddy]

[notme]

Lawl bear toss.

Translation?

http://www.urbandictionary.com/define.php?term=Bear%20toss

What the heck, look at these examples given:

Bear toss

noun: a new market term that describes an argument or action that directly affects the market price positively.

A successful bear toss this morning by a new ASIC developer brought bitcoin's market price up 20%.

Before leaving Wikileaks, Julian Assange made a failed attempt at a bear toss by claiming that the US government was supporting bitcoin.

I don't get the term "bear toss" though, as it should be "bull toss" but perhaps they missed...

Because the bears are trying to make a profit, but this guy tosses them out of the fucking park:

[Its About Sharing]

I picked up a few coins today, sort of as insurance in case we run but also as I just hate not having any Bitcoins, yes, outside of 1 Casascius, I didn't have any! Sitting in pure fiat was too much for me. It is a pretty conflicting state to be in, loving BTC but not liking the current market/price/etc. All or nothing is probably not the smartest anyway. Enough self justification? 

That said, what I noticed today was some VERY big buyers being unable to manipulate the price any higher. I say manipulate as the slippage was just too much. They were bad businessmen (unless they get a rally started). Probably the same "bad buyer" that stopped a crash below 100 on a Sunday weeks ago. Probably the same guys buying all the way up recently. It really looks like resistance at 100 and a little bit beyond is just too much.

On the one hand (me being a HUGE BTC BULL) it was funny to hear crickets after that 5000+ BTC order went through. It felt good to be calm. I thought "It just isn't working anymore. How are they going to unload? How deep are there pockets?"
On the other hand, you never know when the public at large buys into the rally. From sentiment on the TA boards/threads, it seems like people want to see us hold over 100 and perhaps even get past 107 or the like. Well, that is going to take a lot more buying than we saw today.

And remember, for all those whale buyers we've seen lately, don't forget those whale sellers from before the recent rally.

[sukiho]

looks to me like those whales have pushed the price up around 3% the last 24 hours, I wouldnt call that a failure

[Kazu]

I'm still waiting on 100. Every time we hit it we bounce right off.

[Its About Sharing]

looks to me like those whales have pushed the price up around 3% the last 24 hours, I wouldnt call that a failure

Not in and of itself. But when you saw the effort needed (the size of the buys) to move BTC up a few dollars and then retrace down (not to mention slippage), it was a bit amusing...
To see few buyers follow "the leader" was even more amusing.

Kazu - I think the longer we stay here the harder it becomes as those sells are stacked up pretty good. My bet is they want the bids to pile up before dumping (no big guess.)

[RationalSpeculator]

Ok, you do misunderstand the way the market works.
If you have a large amount of bitcoins (or any other good in an open market) to trade, you have to bid at a value that will cover enough offers in the order book. The current price is in fact the price of the last transaction. It's just a rough indicator as the market is purely based on supply and demand.
Say someone just went into the market and bought 100 coins at 50 usd. You look at the market price and say "oh cool, 50 usd, let's buy". But the next sell offer could be at, say, 120usd.

The quote you made of my last post doesn't make sense, quite rightly so, I trying to point out how that manipulation theory falls short of basic logic. My point is exactly that, the buyer obviously bought at the price the market dictate. He spend 60.000 more than the price of the last transaction because it was the only possible way for him to buy that many coins. He could not possibly buy them for 94, there was not that many coins for sale at that price, there hasn't been for quite a quile.

Why would big transactions be manipulation? Because they are big? That is potato logic.

Very interesting post. Thanks so much for sharing

I do find it also strange why someone would buy 5 or 10k coins at market. Does it not make logical sense to buy half at market but also make sure half are not filled immediately? Chances are very high that it will be filled as your new wall is considerably higher than last price?

(I understand that in the bubble runup such new higher wall could not be filled and a complete market order could be rational, but today can one make a reasonable case for that?)

[RationalSpeculator]

When's chartbuddy gonna return with the big charts? (I know you can click on them, but ain't nobody got time fo' dat)

Alternatively, where is (s)he getting the charts from?

I also vote for bigger charts again from chart buddy as I don't bother clicking the small ones and prefer to ignore him altogether. A good proposal was to make the chart at least as big as the minimum post size.

[True___Blue]

Testing 100 again...

[joesmoe2012]

When's chartbuddy gonna return with the big charts? (I know you can click on them, but ain't nobody got time fo' dat)

Alternatively, where is (s)he getting the charts from?

I also vote for bigger charts again from chart buddy as I don't bother clicking the small ones and prefer to ignore him altogether. A good proposal was to make the chart at least as big as the minimum post size.

Also agree, I don't pay much attention to them, but do have an occasional glance, with the new smaller one that i have to click on its jsut too much work. All-in-all its pretty unnecessary and just adds alot o traffic to this thread.

If i ignore chart buddy, will i still get notifications when he posts in this thread?

[Its About Sharing]

Testing 100 again...

I almost didn't want to post my "taunt" above because of the ramifications...

[JimboToronto]

I'm still waiting on 100. Every time we hit it we bounce right off.

Kinda like that old 80 wall. You know, the one that was supposed to bounce us down to 50?

[sukiho]

When's chartbuddy gonna return with the big charts? (I know you can click on them, but ain't nobody got time fo' dat)

Alternatively, where is (s)he getting the charts from?

I also vote for bigger charts again from chart buddy as I don't bother clicking the small ones and prefer to ignore him altogether. A good proposal was to make the chart at least as big as the minimum post size.

Also agree, I don't pay much attention to them, but do have an occasional glance, with the new smaller one that i have to click on its jsut too much work. All-in-all its pretty unnecessary and just adds alot o traffic to this thread.

If i ignore chart buddy, will i still get notifications when he posts in this thread?

I agree too, after all they are the most on topic posts in the thread