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

[Chancellor]

Oh, so we are almost back to the sweet $800.

[1714599625]

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[1714599625]

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[1714599625]

1714599625

[ChartBuddy]

Explanation

[jl2012]

If it was not a typo, second market had biggest recorded buy yesterday of 5870XBT

[electronistul]

What's going on with Stamp ? are we stuck somehow ? 

[bizz]

Can someone explain in short how bitfinex works, i mean leverage. What happens if you panic short with leverage before the rally, and dont have enough to cover the losses, what will happen then?

Margin Call.

[billyjoeallen]

So a five percent drop is all the bears can manage with the Apple news and bitfinex glitch, eh? Hell, we're still way outperforming the stock market for the year.

[electronistul]

It seems like the big hodlers / sellers / buyers / dumpers did their thing, can we have a decent lunch break now and continue after that ?
Thanks! 

[nanobrain]

Wow...did anyone bother to read my post?

Am I missing something or is it fine for an exchange to allow its users to place orders without funds to back them?

Gox has always allowed this but the unfunded orders should not appear on the public orderbook until they become funded, usually by a recent trade happening. This was a cause of the market lagging back in April because their software was checking whether orders were funded before executing. They optimized this.

Bitstamp recently introduced a nice variation, where a new order to sell is automatically created at a preset price after a purchase is executed (and vice-versa).

Hi,
Thanks for the response.
I didn't know that was the case with Gox: their communication with me described it as a fault so I assumed it was not the norm.  The orders do show up in BTCWisdom...I posted a heap of orders on the GBP/BTC market this afternoon, just to see how far it would go.

My experience on other exchanges (BTCe/Stamp/BTCChina) is that no funds = no order can be placed.  So, I'm not sure I understand your second par. since on Stamp, if I place an order my available balance is adjusted accordingly.

[solex]

Wow...did anyone bother to read my post?

Am I missing something or is it fine for an exchange to allow its users to place orders without funds to back them?

Gox has always allowed this but the unfunded orders should not appear on the public orderbook until they become funded, usually by a recent trade happening. This was a cause of the market lagging back in April because their software was checking whether orders were funded before executing. They optimized this.

Bitstamp recently introduced a nice variation, where a new order to sell is automatically created at a preset price after a purchase is executed (and vice-versa).

Hi,
Thanks for the response.
I didn't know that was the case with Gox: their communication with me described it as a fault so I assumed it was not the norm.  The orders do show up in BTCWisdom...I posted a heap of orders on the GBP/BTC market this afternoon, just to see how far it would go.

My experience on other exchanges (BTCe/Stamp/BTCChina) is that no funds = no order can be placed.  So, I'm not sure I understand your second par. since on Stamp, if I place an order my available balance is adjusted accordingly.

Interesting that Wisdom is showing unfunded orders. These shouldn't be published by the exchange. I wonder if that is yet another recent gox glitch, one that has the "benefit" of making their orderbook look fatter than it is.

In Bitstamp, limit orders with advanced setting allows a 2nd price for auto-selling after buying or vice-versa.

[fonzie]

Aaaaand bitcoinwisdom is down   

[electronistul]

Aaaaand bitcoinwisdom is down   

There's always tradingview.com 

[empowering]

Bitstamp

Upside breakout scenario.

Bitstamp

Starting point was $820/5 February 01, 2014 at around 02:55:31 PM

I have laid out my upside possible resistance/pivots/supports from my original post for easier viewing.

If we break out from now or over the next few weeks or at least the next month
then from   $820-$825   I see the following possible resistance/pivots/supports.
 
$840-$858
$858-$880
$880-900 ($900 psychological for USD)
$900-$910/5 (could be a psychological resistance level as also $908/10 = CNY5500)
$910-$928
$928-$945
$945-$970
$991 - (could be a psychological resistance level as also $990/1 ish = CNY6000)
$Onwards past $1000 and retacements end at $1176 not really looked
$Cape Canaveral

Downside scenario from this current $820 - $825 channel I can see the possible supports/pivots/resistance

$825 (this price could also be a psychological support because $825= CNY4999.99)
$817 - We dipped down to here for quite some time a good few hours February 01, 2014, 09:32:01 PM now hovering on or around $817 within plus or minus $2ish- or CNY 50 short of CNY5000 $817 first acting as support then switching to resistance - within $2-3 but $817 is quite a specific number we have been pivoting on off for quite a few hours… not $833 or $823 or  $807 - but quite strongly pivoting around $817 (+- $2-3ish) ….quite interesting to see what happens…. next….,  if there is consolidation at this level then there should be a movement one way or other…  
$800 psychological
$800 - $775 ish
$775- $757 ish
$757- $749 ($740 = CNY4500)
$725? (edit)
$710/11 (edit added 03/02/2014)
$700 psychological
$682 (edit added 03/02/2014)
$642 (edit added 03/02/2014)
$604 (edit added 06/02/2014)
$550 (edit added 06/02/2014)
$519 (edit added 06/02/2014)
ssshhh
 
Update February 02, 2014, 05:18:05 AM (?)
$817 Still bouncing along this resistance line

Update: February 03, 2014, 13:51
1st RS $825
Pivot   $817
1st SP $800

In past 48 hours we have touched the support at bottom of 1st channel at $800  (actual low in past 48 hours  =$800.05)
Bounced either side of $817 for a fair 24 hours, and before dipping down to test $800 SP)
and on the upside we touched 1st resistance level above pivot at $825 (actual high in past 48hrs = $825.21)

Looks like we may get possible retest of $800 and pos lower soon, though I still think we are going up

Update: February 04, 2014, 11:58:37 PM

nxt $858
nxt $840

1st RS $825
Pivot   $817
1st SP $800 Been trading in-between $817 and $800 , with a tiny flashes a little lower on the test of $800 nothing to write home about, currently testing $800 again
nxt $775 ish
nxt $757 ish


As a side note- things are pretty stable at the present second, barring a catastrophic break of $800 I am wondering if we may trade sideways for a few more days/while longer.  Still waiting for a breakout of this sideways channel but starting to think that if we do not see movement soon, or at the very least in the week after the end of the Chinese hol's then I would not be surprised barring any oh noes newses if we trade sideways in slightly larger channel until mid may ish before pushing up up...


In this ever changing world in which we live in - just a my 2 satoshi worth , live and let live.

Update February 06, 2014, 02:13:45 AM

nxt $825

1st RS $817  (actual high in last 48hrs ish $814 ish)
Pivot- Psych SP/RS level - $800 Psychological support level turned pivot
1st SP  $775 ish (actual low in last 48 hours ish $775 : )

nxt $757 ish

So we spent almost 24 hours bouncing along $800 give or take a few dollars each side for quite some time testing and retesting, before bouncing on its underside for a short while and then came a sell off slightly lower dip down to $784.83  it was not a catastrophic break of $800 this time around at least, and we did not quite sell off all the way down to the next potential support level I indicated of $775 (ish) before bouncing straight back up to $800 level again to bounce along its underside for an hour or so before another sell off selling right down to next support level going down to $775 on the nose before a bounce up to midway point to $800 and back down to $775 again, as I write this we have bounced back up to almost $800 ... $797.5 lets see what is next..if we bounce off $800 and down more or if we can break back up through, $800 is a psyc level, which in this "game scenario" I posit has weight but not as much weight at Fib levels , not unless they intersect.

...at this point I would not be surprised to see a retest of both $813/817 and a retest of $775(ish) in next 48 hours, making $800 the current pivot with $817 1st RS level and $770-$775/8ish being 1 SP level.  Be interesting to see if we do

I still think we are still biding time for upwards push same time frame as before ie within now to end of 1st week after Chinese New year or if not I can imagine slightly wider sideways channel until mid may with some bouncing around… and then up up up.

That being said, as I have been writing this Gox seems to be having a dither… and waking up , so this scenario is barring of course major newses or catastrophes in the market..eitherway
looks like things may stir from this channel a little more... one can hope... this is FUN

Quite interested to note that of points I noted from my starting point $825
$817
$800
$775
Have all had a good visit, and indeed in this instance have made good buy and sell signals to trade from

Mini update February 06, 2014, 10:55:53 AM
$757(ish) been paid a visits too ($752 actual low so far past 24 hrs)

Notes mainly the same as yesterday- nothing changed tbh....will update again in 12-36 hours.

Happy days... so glad I had a sleep... methinks there will be more fun to be had today.

Looks like I may need a new graph soon...

[ChartBuddy]

Explanation

[fonzie]

Aaaaand bitcoinwisdom is down   

This is way better than bitcoinwisdom.com

http://www.youtube.com/watch?feature=player_embedded&v=EeoY7HofJNE

http://www.youtube.com/watch?feature=player_embedded&v=SXk10E5eYL0

 

[nanobrain]

Wow...did anyone bother to read my post?

Am I missing something or is it fine for an exchange to allow its users to place orders without funds to back them?

Gox has always allowed this but the unfunded orders should not appear on the public orderbook until they become funded, usually by a recent trade happening. This was a cause of the market lagging back in April because their software was checking whether orders were funded before executing. They optimized this.

Bitstamp recently introduced a nice variation, where a new order to sell is automatically created at a preset price after a purchase is executed (and vice-versa).

Hi,
Thanks for the response.
I didn't know that was the case with Gox: their communication with me described it as a fault so I assumed it was not the norm.  The orders do show up in BTCWisdom...I posted a heap of orders on the GBP/BTC market this afternoon, just to see how far it would go.

My experience on other exchanges (BTCe/Stamp/BTCChina) is that no funds = no order can be placed.  So, I'm not sure I understand your second par. since on Stamp, if I place an order my available balance is adjusted accordingly.

Interesting that Wisdom is showing unfunded orders. These shouldn't be published by the exchange. I wonder if that is yet another recent gox glitch, one that has the "benefit" of making their orderbook look fatter than it is.

My thoughts exactly.  

Their correspondence suggested they view the whole situation as a fault that they will rectify "in the future".

In Bitstamp, limit orders with advanced setting allows a 2nd price for auto-selling after buying or vice-versa.

It's been a while since I've used Stamp (I'm migrating back over there...lesson learnt by exchange hopping) and I noticed this feature but couldn't find any explanation.  So, essentially I can place a second 'hypothetical' order that is only realised if the first is executed.  That's funky (although I'd prefer a simple stop/loss facility).

[Drabla]

Bitfinex is killing me. Are they going to roll these trades back? Trading froze again 15 minutes ago.

Just woke up. Could you provide a link or a quick summary of what happened? Thanks! ( whatever happened got me more BTC )

[delphic]

Bitfinex is killing me. Are they going to roll these trades back? Trading froze again 15 minutes ago.

Just woke up. Could you provide a link or a quick summary of what happened? Thanks! ( whatever happened got me more BTC )

Bitcoin on Bitstamp crashed to $300 so everyone bought cheap coins. Then it soared to $1125 and everyone sold. Then it fell back to $802. Shame you missed it all.

Or you could always scroll up.

[Drabla]

Bitfinex is killing me. Are they going to roll these trades back? Trading froze again 15 minutes ago.

Just woke up. Could you provide a link or a quick summary of what happened? Thanks! ( whatever happened got me more BTC )

Bitcoin on Bitstamp crashed to $300 so everyone bought cheap coins. Then it soared to $1125 and everyone sold. Then it fell back to $802. Shame you missed it all.

Or you could always scroll up.

Thanks Had a brief moment of panic here as i woke up to a bunch of trade notifications, 'bfx is f*cked' comments and bitcoinwisdom down ^^

[HairyMaclairy]

Be happy your trades went through 

[TERA]

So is it time to buy now before the next run on 825?