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

[Rampion]

China isn't moving because the Chinese are asleep.

China is down -5.7% over 3 days.

Also the arbitrage is closed, which means that west will have to raise the price to $1,000 by themselves.

We are also more than 2x ahead of the long-term trend, which is a very extended position.

Bid/ask charts are quite tilted towards the latter. Especially noteworthy is the lack of bids $700+

Volume is low.


Ch00000000000000........

EDIT: the last one is pronounced: "irrational exuberance is running rampant in the forum, expecting price to rise based on previous rise"

We all know you are praying for cheaper coins, Risto - just try to keep it serious, right?

There is a $5M wall on Gox at $800 - $12.2M till $700. That's 33% of the bids from $700 to the current price, that's a healthy depth.

On Bitstamp the situation is pretty much the same - aprox. of 30% of the bids are placed between the current price and $700.

So... That's a "lack of bids" in your book? Historically most of the bids have been placed from 0 to 50% of the price at a given moment. That's normal in BTC because everybody is trying to profit from the big volatility. Right now 75% of the bids are placed above 50% of the current price.

The bid depth is looking bullish no matter what, my friend.

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[rpietila]

explained above. 1/6 you misunderstood, 5/6 stand unrefuted.

[Grafzep]

China isn't moving because the Chinese are asleep.

China is down -5.7% over 3 days.

Also the arbitrage is closed, which means that west will have to raise the price to $1,000 by themselves.

We are also more than 2x ahead of the long-term trend, which is a very extended position.

Bid/ask charts are quite tilted towards the latter. Especially noteworthy is the lack of bids $700+

Volume is low.


Ch00000000000000........

EDIT: the last one is pronounced: "irrational exuberance is running rampant in the forum, expecting price to rise based on previous rise"

"2x" ?  -  thought you prided yourself on logarithmic analysis? Lost your tables?

[PrymeTyme]

China isn't moving because the Chinese are asleep.

China is down -5.7% over 3 days.

Also the arbitrage is closed, which means that west will have to raise the price to $1,000 by themselves.

We are also more than 2x ahead of the long-term trend, which is a very extended position.

Bid/ask charts are quite tilted towards the latter. Especially noteworthy is the lack of bids $700+

Volume is low.


Ch00000000000000........

EDIT: the last one is pronounced: "irrational exuberance is running rampant in the forum, expecting price to rise based on previous rise"

Markets tend to trade towards size, not away form it!

who cares about 700 ? anyway ...  

 if on a drop , price gets rejected @800  that would be the last call  before the Bulltrain takes off..   if that  ever happens ,  its still a bulls party

[maz]

China isn't moving because the Chinese are asleep.

China is down -5.7% over 3 days.

Also the arbitrage is closed, which means that west will have to raise the price to $1,000 by themselves.

We are also more than 2x ahead of the long-term trend, which is a very extended position.

Bid/ask charts are quite tilted towards the latter. Especially noteworthy is the lack of bids $700+

Volume is low.


Ch00000000000000........

EDIT: the last one is pronounced: "irrational exuberance is running rampant in the forum, expecting price to rise based on previous rise"

We all know you are praying for cheaper coins, Risto - just try to keep it serious, right?

So your only serious if your blindly emotionally peeing your pants to the moon bullish, but if you compare some market trends and hint at being bearish your not?

-5 credibility for you.

[micalith]

And just as I was about to add further to the bull attack on rpietila by saying walls are fickle, so shouldn't be considered as much as cumulative asks/bids, the bitstamp ask wall looses patience like the previous one!    

edit: shameless patting myself on the back there. easy now

[mccorvic]

So your only serious if your blindly emotionally peeing your pants to the moon bullish, but if you compare some market trends and hint at being bearish your not?

-5 credibility for you.

I think the rule is that you're only allowed to subtract credibility points (CredPoints, if you will) from someone if you have any yourself. Sorry mate.

[DougTanner]

1

[ChartBuddy]

[Sitarow]

LET LOOSE THE DOGS OF WAR

[Rampion]

China isn't moving because the Chinese are asleep.

China is down -5.7% over 3 days.

Also the arbitrage is closed, which means that west will have to raise the price to $1,000 by themselves.

We are also more than 2x ahead of the long-term trend, which is a very extended position.

Bid/ask charts are quite tilted towards the latter. Especially noteworthy is the lack of bids $700+

Volume is low.


Ch00000000000000........

EDIT: the last one is pronounced: "irrational exuberance is running rampant in the forum, expecting price to rise based on previous rise"

We all know you are praying for cheaper coins, Risto - just try to keep it serious, right?

So your only serious if your blindly emotionally peeing your pants to the moon bullish, but if you compare some market trends and hint at being bearish your not?

-5 credibility for you.

What its not serious is to say that there is a lack of bids $700+ when he is an old timer and perfectly knows that having +30% of the total bids concentrated in the spread between $850 and $700 (which is LESS than a 20% spread) is extremely bullish and quite uncommon in the BTC market.

If you look at the depth we had months ago, usually 50% of the bids were 50% below the price - now only 25% are below 50% of the current price, and 75% are above.

This is one of the most bullish market depth scenarios we have seen in BTC, ever.

[rpietila]

The fact that a simultaneous buying takes place in gox and selling in stamp is so hilarious.

Soon you will say that it is bullish that a large holder of goxbux wants out!  

China: "yawn"

[Loozik]

Tradingview added:
Bitstamp: https://www.tradingview.com/e/?symbol=BITSTAMP:BTCUSD
and
BTC-e: https://www.tradingview.com/e/?symbol=BTCE:BTCUSD

[atleticofa]

LET LOOSE THE DOGS OF WAR

Where do you gets this chart? Thank you

[lucas.sev]

Where do you gets this chart? Thank you

btccharts

[Sitarow]

LET LOOSE THE DOGS OF WAR

Where do you gets this chart? Thank you

btccharts.com

import layout 383

[Shak]

absolute massive dumps on bitstamp, yet the price is quite stable. someone tried to force it down, betting on a dual-top (and trying to self-fulfill this)?

[Loozik]

China: "yawn"

China is bearish; will go below 3,000. Not sure when though.

[zoinky]

absolute massive dumps on bitstamp, yet the price is quite stable. someone tried to force it down, betting on a dual-top (and trying to self-fulfill this)?

Just weak hands giving their coins to stronger smart hands.

[Boxman90]

absolute massive dumps on bitstamp, yet the price is quite stable. someone tried to force it down, betting on a dual-top (and trying to self-fulfill this)?

Rather some big whale at Gox wants dollars he can actually transfer back to his account, and is thus cashing out at Bitstamp. Added benefit: heavy buying will create upwards pressure on Bitstamp, meaning he can sell >2000 BTC there between 830 and 850 - which is exactly what's happening now.