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

[ag@th0s]

 So do we think confidence is building or are we about to plummet?

I think someone, probably a mainstream firm, is accumulating a large inventory of bitcoins in a methodical manner, steadily increasing the price without letting it run away, but securely holding each price breakthrough to maintain the value of their holdings.

The pattern has been consistent as the various major ask walls (88, 95, 100, 110, etc) have fallen. Buy through the ask wall, drop a good sized bid wall, let the market run with the uptrend, drop another bid wall, rinse and repeat.

Thanks - so that's a hold?

[ag@th0s]

 So do we think confidence is building or are we about to plummet?

I think someone, probably a mainstream firm, is accumulating a large inventory of bitcoins in a methodical manner, steadily increasing the price without letting it run away, but securely holding each price breakthrough to maintain the value of their holdings.

The pattern has been consistent as the various major ask walls (88, 95, 100, 110, etc) have fallen. Buy through the ask wall, drop a good sized bid wall, let the market run with the uptrend, drop another bid wall, rinse and repeat.

plummet

definitely about to plummet

Bollocks -180 by Friday

[rampantparanoia]

So do we think confidence is building or are we about to plummet?

I think someone, probably a mainstream firm, is accumulating a large inventory of bitcoins in a methodical manner, steadily increasing the price without letting it run away, but securely holding each price breakthrough to maintain the value of their holdings.

The pattern has been consistent as the various major ask walls (88, 95, 100, 110, etc) have fallen. Buy through the ask wall, drop a good sized bid wall, let the market run with the uptrend, drop another bid wall, rinse and repeat.

plummet

definitely about to plummet

Bollocks -180 by Friday

Sure hope so. Just put in my ask in the range of $170-180

Otherwise I'll have to bluff out other's coins from SWC

[JimboToronto]

During the last 3 days about 20k BTC have disappeared from the order book (at least as I write this).
Do you think it's just one major player (possibly a company) buying? Is the withdrawal of funds from Fort Gox via BTC over?

I think it's one major player (probably a company) instigating and maintaining the uptrend to acquire an inventory of bitcoins as cheaply as possible while keeping the price as stable as possible to protect their assets.

[rampantparanoia]

During the last 3 days about 20k BTC have disappeared from the order book (at least as I write this).
Do you think it's just one major player (possibly a company) buying? Is the withdrawal of funds from Fort Gox via BTC over?

I think it's one major player (probably a company) instigating and maintaining the uptrend to acquire an inventory of bitcoins as cheaply as possible while keeping the price as stable as possible to protect their assets.

Top 1%?

[ag@th0s]

 So do we think confidence is building or are we about to plummet?

I think someone, probably a mainstream firm, is accumulating a large inventory of bitcoins in a methodical manner, steadily increasing the price without letting it run away, but securely holding each price breakthrough to maintain the value of their holdings.

The pattern has been consistent as the various major ask walls (88, 95, 100, 110, etc) have fallen. Buy through the ask wall, drop a good sized bid wall, let the market run with the uptrend, drop another bid wall, rinse and repeat.

plummet

definitely about to plummet

Plummet... to the moon.

I've tried to do that a couple of times, but I can't get off the fucking planet.  It's gravity, defeating me.  So - up or down?

[ChartBuddy]

[ag@th0s]

SNAFU

[Tzupy]

During the last 3 days about 20k BTC have disappeared from the order book (at least as I write this).
Do you think it's just one major player (possibly a company) buying? Is the withdrawal of funds from Fort Gox via BTC over?

I think it's one major player (probably a company) instigating and maintaining the uptrend to acquire an inventory of bitcoins as cheaply as possible while keeping the price as stable as possible to protect their assets.

I disagree with the 'protect their assets' part, because it's conflicting with the 'as cheaply as possible' part, which is the important one IMO.
My evaluation is that the major player lets the market go down if possible, and buys when the uptrend from the 'withdrawal via BTC' is about to make coins more expensive anyway.

[BitcoinAshley]

Can't Gox just get in bed with Internet Archive FCU? I thought they were putting themselves out there for Bitcoin companies now... maybe they're too small for Gox's $$ volume.

[ChartBuddy]

[solex]

It surprises me that people are still prepared to sell coins on Gox in return for their 'x-month IOU's' other than for short term speculating.
I wonder how long that will last

Yes. Those selling on Gox are mostly assuming that they can buy back lower on the dips or have JPY accounts and think they can get that out in good time.

At some point a lot of fiat holders will be left holding the bag. Gox will either sort out its FinCen problems and return to business as usual, or be forced to shut up shop. In the latter case the trapped customers can get in the queue behind the Bitcoinica claimants for their fiat or coins.

[ChartBuddy]

[Walsoraj]

well, that de-escalated quickly

volume flat-lining 

[DaSheep]

just gtfo. we are going to the oort cloud and beyond.

The parabolic sar switching to the underside means Bullish...

what don't you understand about the oort?

Dude
I was strapping rockets to my coins all day long.
Fasten your seatbelts, gonna fire in 3..2..1..

[ChartBuddy]

[ChartBuddy]

[Richy_T]

115! (just)

[ChartBuddy]

[JimboToronto]

During the last 3 days about 20k BTC have disappeared from the order book (at least as I write this).
Do you think it's just one major player (possibly a company) buying? Is the withdrawal of funds from Fort Gox via BTC over?

I think it's one major player (probably a company) instigating and maintaining the uptrend to acquire an inventory of bitcoins as cheaply as possible while keeping the price as stable as possible to protect their assets.

I think it's multiple people with big cash balances on Gox losing patience seeing buying as the safest way out, but trying not to spook the market too much as they do so. I would like to see numbers for BTC leaving Ft Gox if they are available. I am pretty sure there is not a crowd banging on the door to give them more USD right now, so it's a one way street.
Massive first mover advantage here ... buy, hold, let BitStamp follow, cash out $10 later. Or $15 as it is now. Or hold for the panic run. Nobody talks of it, but there will be one if they continue to make no progress whatsoever on finding a banking partner to work with.
Confidence in Gox is decreasing and there is only one way out. Could get really crowded ...

Edit: Oops, just got back from the ballpark (Jays beat Bsox in extra innings), had a few beers and posted the quote without a comment (facepalm).

I don't think the MtGox situation has been that big an issue, worldwide, since early July's capitulation. If you look at the pattern of ask-wall busting whale purchases and ensuing bid-walls, they seem to be the work of a single entity. The modus operandi has been consistent through several major ask-wall breakthroughs.

Do you really think someone with the resources to organize such a concerted effort is restricted by some petty exchange difficulties.

It's probably either governmental, corporate or military. It's almost surely not speculators.