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

[El duderino_]

Well, very nice to see this rally. However, even if this is a suckers rally, that low 3000 area looks fucking solid. I've stated on here before that Bitstamp's order book is a strong indicator telling us where the bottom is. Why I think this, is because Bitstamp is what seems to be an honest market and has no margin or shorting. When the price was at 3200 you needed about 2800 btc to be sold to take the price down to the 3000 level, but, if 2800 btc were bought the price would go to 4400.

At the 6000 level the order book was actually balanced between the buys and sells, hence it could break down with relative ease, in comparison to the 3000 level. There is massive buy support at the 3000 level and very little selling support. It's simple, not only is 3000 considered a good level to buy, we also get twice as many btc for the same amount of fiat compared to the 6000 level. And the sellers obviously don't want to sell at that level because what's the point, they have already lost over 80% from the highs, might as well just leave it to be lost, or hope that btc repeats it's historical patterns and booms again in a few years.

Nice; I buy most of your theory, and think your post deserves merit and a hat, neither of which are in my remit...

Got your back (btw you should apply for being a source.... would be a good one)

The HAT is something XhomerX is gotta do
If he finds the time for it

[1713955156]

1713955156

[1713955156]

1713955156

[1713955156]

1713955156

[mOgliE]

Btw 1BTC= 4K

Still so F***ing cheap ??

Anything under 10k$ is F***ing cheap as hell like the old one-legged prostitute of St Martin road at Paris  


So was i told.

[Cryptotourist]

Well, very nice to see this rally. However, even if this is a suckers rally, that low 3000 area looks fucking solid. I've stated on here before that Bitstamp's order book is a strong indicator telling us where the bottom is. Why I think this, is because Bitstamp is what seems to be an honest market and has no margin or shorting. When the price was at 3200 you needed about 2800 btc to be sold to take the price down to the 3000 level, but, if 2800 btc were bought the price would go to 4400.

At the 6000 level the order book was actually balanced between the buys and sells, hence it could break down with relative ease, in comparison to the 3000 level. There is massive buy support at the 3000 level and very little selling support. It's simple, not only is 3000 considered a good level to buy, we also get twice as many btc for the same amount of fiat compared to the 6000 level. And the sellers obviously don't want to sell at that level because what's the point, they have already lost over 80% from the highs, might as well just leave it to be lost, or hope that btc repeats it's historical patterns and booms again in a few years.

Nice; I buy most of your theory, and think your post deserves merit and a hat, neither of which are in my remit...

I would love to know which part you don't buy?

[HairyMaclairy]

Ironically it’s the longs that are evaporating.  Ratio massively skewed to short side.  More rocket fuel for squeezes.  Very crowded trade.  

[LFC_Bitcoin]

via Imgflip Meme Generator

Btw 1BTC= 4K

Still so F***ing cheap ??

This is definitely me!

Always had a sense of entitlement

[somac.]

Well, very nice to see this rally. However, even if this is a suckers rally, that low 3000 area looks fucking solid. I've stated on here before that Bitstamp's order book is a strong indicator telling us where the bottom is. Why I think this, is because Bitstamp is what seems to be an honest market and has no margin or shorting. When the price was at 3200 you needed about 2800 btc to be sold to take the price down to the 3000 level, but, if 2800 btc were bought the price would go to 4400.

At the 6000 level the order book was actually balanced between the buys and sells, hence it could break down with relative ease, in comparison to the 3000 level. There is massive buy support at the 3000 level and very little selling support. It's simple, not only is 3000 considered a good level to buy, we also get twice as many btc for the same amount of fiat compared to the 6000 level. And the sellers obviously don't want to sell at that level because what's the point, they have already lost over 80% from the highs, might as well just leave it to be lost, or hope that btc repeats it's historical patterns and booms again in a few years.

Nice; I buy most of your theory, and think your post deserves merit and a hat, neither of which are in my remit...

Glad I'm not alone in my thoughts. I need a pic before a hat though, and merit does seem to be an uncommon commodity.

Only problem with the orders at the moment though, is that the buy orders aren't really chasing the price, but, the sell orders are not following the price down either. What's more, looking at this price increase, not many new sell orders are being added either. So I really do think the bulls have it at these levels. I'd say that at worst we will now be repeating a 2015 sideways to slightly up market.

[mOgliE]

Ironically it’s the longs that are evaporating.  Ratio massively skewed to short side.  More rocket fuel for squeezes.  Very crowded trade.  

Seems logical, the price surge is unhealthy.

There is a good probability of the price going down again and they want in.

I would go in too, if there wasn't SO MUCH SHORT ALREADY
I think the amount of short is in fact a freaking good news because each short is making the bottom a bit more solid. You can't short if there is no coin to buy... And coins at 3500$ aren't so numerous...

[mOgliE]

All the proof we need that the market is in the phase of this is a suckers rally. I believe it's not and they're about to be rekt.

Even if it was a sucker rally, once everyone thinks so and act accordingly, it becomes a real rally.

All those shorts means bought coins, means solid bottom.
Every time the price will drop, even a bit, closing shorts will make it up.

[somac.]

Ironically it’s the longs that are evaporating.  Ratio massively skewed to short side.  More rocket fuel for squeezes.  Very crowded trade.  

yes those shorts are still massively high, even after this pump, I was surprised at this.

https://www.tradingview.com/symbols/BTCUSDSHORTS/

[Last of the V8s]

Someone on here said a few hours ago that shorts had closed and reopened higher iiuc. Is that right? How can we track that?

[somac.]

Guys, another thing to look at regarding fundamentals are the new USD stable coins. These are considered "honest" and I think they will help show how the inflows of actual money into the market is going. This will be represented by their market cap, and it is currently looking very nice.

[Globb0]

I worry how quick you all switch to happy


elsewhere, Roach revealed!

[somac.]

Someone on here said a few hours ago that shorts had closed and reopened higher iiuc. Is that right? How can we track that?

Unsure about the shorts, but Bitstamp's sell order book seems to have done this, or alternatively has not been added too. At $3200 order book was saying 2800 hundred coins bought to reach $4400 (+35%) it is now saying 1600 coins bought to reach $5185 (+28%). Unfortunately, it is currently showing 1600 coins sold will take the price down to $3300 (-19%), where as when price was $3200 it said 2800 coins sold would bring it down only 4%

[sirazimuth]

.....like the old one-legged prostitute of St Martin road at Paris  


So was i told.

Ah yes, and apparently when she’s working the street and you need her services,
you simply drive up to her and holler “hop in!”.

So was I told.

[toknormal]

Sinking.

[mOgliE]

Sinking.

I'm going to buy a handful of shares, db won't go under. Banks are going to be making money forever.

Until they collapse definitively.

[Spaceman_Spiff_Original]

and of course this bounce comes at the moment in this downturn when I have the least amount of coins  .

[El duderino_]

I worry how quick you all switch to happy


elsewhere, Roach revealed!

Just make it easy from the moment you decide to invest in BTC
Just stay happy no matter what, knowing you have a good investment with sick upward potentials

[toknormal]

I'm going to buy a handful of shares, db won't go under. Banks are going to be making money forever.

The toxicity doesn't disappear just because they get bought or bailed out. It just makes the host toxic.

Who was one of the biggest triggers for the 2008 banking collapse ?

Royal Bank of Scotland.

Why ?

They were reasonably solvent until they "took over" ABN Amro, half of who's balance sheet was filled with toxic sub-prime securities. Like swallowing a bottle of bleach.

Similarly, whoever buys Deutsche, the experience will be like "swallowing a bottle of bleach". But maybe that's something that some people enjoy

[El duderino_]

Where is roachie poachie

latest footage of r0ach ?