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

[StartupAnalyst]

Hello, WO`s gang!    
I think this picture shows the state of the world as a whole.

[1713566046]

1713566046

[Hueristic]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

[Biodom]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

They need to investigate themselves as to why they accept a limit sell order 2000 points below the market price.
That kind of order (not a market sell) should be simply rejected by the trading system (as an error).

[goldkingcoiner]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

They need to investigate themselves as to why they accept a limit sell order 2000 points below the market price.
That kind of order (not a market sell) should be simply rejected by the trading system (as an error).

Theres a reason why Bitmex is located in Seychelles

If this shit stainless steel is worth $ 91 million, then what about Bitcoin?
[img=222]https://i.imgur.com/Xureyrm.png[/img]
$91 Million Record Koons Bunny

Gotta launder that dirty money....

[El duderino_]

via Imgflip Meme Generator

Gonna give whiskey another chance, which one should I take??

BTCMILLIONAIRE ??

[LFC_Bitcoin]

Now Bob mines Grin (self-described).

* BobLawblaw continues to shake mock-angry fist at Thermos.

Finally managed to mine > 60 GRIN. Ain't no fucking way the rig is going to pay for itself in the foreseeable future.

I bought some GRIN when theymos was recommending it. I’ve just left it on Bittrex & mostly forgotten about it.
Most likely a load of crap sadly.

[El duderino_]

via Imgflip Meme Generator

Gonna give whiskey another chance, which one should I take??

BTCMILLIONAIRE ??

via Imgflip Meme Generator

No whiskey reply, so i’m a n00b that doesn’t know what to take, mmmm gonna keep a wine instead Then....

Also @r0ach ...... my GF Said Mic take me there ...... so yes I did, have the time of my life again as a healthy couple.

F*** b00ze is talking

[Virtual miner]

Aiming at predicting the next move of BTC with upcoming sunday as we have seen sundays have always been quite bearish days.



I feel as per the Analysis that BTC has just started it's impulse wave 1 after the long consolidation phase. As the previous set of waves taking us to levels 5700-5800. This Run towards 8000 was a major wave action. Now what we are going through is the correction phase in which there are two possibilities.

i. We might see some more correction to .618 level of fibonacci touching the trendline of the channel to around 6800 levels and then see a movement upwards
ii. The correction we made at .5 level was final and we might see a rally towards the third wave immediately tomorrow this would be confirmed only if we get some bullish momentum tonight therefore forming a long wick with thin body.

Chances of (i) is more considering that RSI is still a bit above the 60 level it needs to take a support at 60 level and only then it will rise upward. However overall sentiment still looks bullish. But I would suggest to stay away from market and place your buy orders only above 8200 if we break it. The MACD is somewhat not giving any signs to support the analysis.

PS: This is just my analysis as to the price movement for educational purposes.

[Cryptotourist]

https://i.imgur.com/jXgf5qt.png

[Toxic2040]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

They need to investigate themselves as to why they accept a limit sell order 2000 points below the market price.
That kind of order (not a market sell) should be simply rejected by the trading system (as an error).

It sounds suspiciously like you are suggesting something like curbs or circuit breakers be put in place. Is that really the direction we want to go?


Personally, I will just observe that cries of market manipulation seem to mostly come after there is a sharp drop or correction, Hardly ever when there is a bull run or pamp. That being said, obvious moves are obvious and will probably draw scrutiny so one should be prepared for such eventualities.

Even having a few thousand bitcoin on key exchanges is a fairly large stick with the market as thin as it is. Such sticks get waved around on occasion it would seem.

------

1h

[Biodom]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

They need to investigate themselves as to why they accept a limit sell order 2000 points below the market price.
That kind of order (not a market sell) should be simply rejected by the trading system (as an error).

It sounds suspiciously like you are suggesting something like curbs or circuit breakers be put in place. Is that really the direction we want to go?

No, not curbs, but if someone fat fingered $6200 limit price sell when market is at $8200, such order is typically automatically rejected on all respectable exchanges (I am not talking only about crypto).
That is not a curb of any sort. I have no problem with that order if it was a market order and it just went down because of low liquidity.
BTW, coinbase pro would not even accept a limit buy order at the ask price or above it. Same (in reverse aka below bid) with a sale, I assume.

[Biodom]

F*** b00ze is talking

You and me both, buddy.

Crazy weather here. Tornado Warning in effect until 5pm or so, but I think the worst is behind us.

Thinking of eating 1g of mushrooms and see how that hits me for the evening.

Life is good.

A tornado could take me out in the next 15 minutes, and I would die a happy man.

Hodl.

EDIT: Not sure if Mushrooms + Beer is a good combo, so considering holding off to tomorrow

Hang it there, pal.
Sounds lame, but I think that told you before that Dallas has tornadoes, strangely enough.
Houston have hurricanes and tropical storms.
In Texas, Austin is optimal since it has a river, hills, less humidity, no hurricanes and younger population.
RE prices are rising, but still ridiculously cheap by Cali measures.
My choices for later (maybe when retired): Oregon, Vancouver, Colorado, Austin and Canary Islands, not necessarily in that order.

[rebal15]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

They need to investigate themselves as to why they accept a limit sell order 2000 points below the market price.
That kind of order (not a market sell) should be simply rejected by the trading system (as an error).

It sounds suspiciously like you are suggesting something like curbs or circuit breakers be put in place. Is that really the direction we want to go?

No, not curbs, but if someone fat fingered $6200 limit price sell when market is at $8200, such order is typically automatically rejected on all respectable exchanges (I am not talking only about crypto).
That is not a curb of any sort. I have no problem with that order if it was a market order and it just went down because of low liquidity.
BTW, coinbase pro would not even accept a limit buy order at the ask price or above it. Same (in reverse aka below bid) with a sale, I assume.

Maybe It is market sell that caused a stop loss and liquidation of long positions. The amount of BTC sold became more important brining the price down.

[Toxic2040]

No, not curbs, but if someone fat fingered $6200 limit price sell when market is at $8200, such order is typically automatically rejected on all respectable exchanges (I am not talking only about crypto).
That is not a curb of any sort. I have no problem with that order if it was a market order and it just went down because of low liquidity.
BTW, coinbase pro would not even accept a limit buy order at the ask price or above it.

Its stockholm syndrome or some other similar ailment I am sure. I guess I am just used to the market dumping on my face...I take it in stride now.

I think we have to assume it was a open dump until if and when we learn otherwise.


------------

F*** b00ze is talking

You and me both, buddy.

EDIT2: Can you you imagine that ? A drunk, stoned, and psychoactive-influenced, intellectual, naked black-man, running down the streets of suburban Texas, in horrific weather ? It's like the opening to the next Cohen Brothers film...

@goose
I would go for the Michters personally but all of it will put a bit of hair on your chest.

+1 WOsMerit

@bawb

+1 WOsMerit

I see it.

[ivomm]

Bitstamp Starts Investigation After Large BTC Sell Leads to $250 Mln Liquidated on BitMEX

https://cointelegraph.com/news/bitstamp-starts-investigation-after-large-btc-sell-leads-to-250-mln-liquidated-on-bitmex

Step 1. Call FBI or Interpol. They will block the fiat indefinitely. Good luck to that guy proving his coins are legal. The same old story of BFX guy with 800mln locked by the governments on behalf of the FBI/Interpol. I honestly never heard of someone getting their money back. This incredibly stupid n00b can say goodbye to his money.
Step 2. Call some NY attorney to check carefully all suspicious short positions on the various exchanges - BFX, Bitmex, CME, CBOE, etc. The accomplices should come out.
Step 3. Repeat Step 1 for the suspects.
Step 4. Don't allow more than 10% drop of the price by a single sell (I think Coinbase recently added that feature. I am not sure about that and I don't want to advertise CB.)

[Last of the V8s]

PC Plod can fuck off. wtf Ivo?

[El duderino_]

EDIT: Not sure if Mushrooms + Beer is a good combo, so considering holding off to tomorrow
EDIT2: Can you you imagine that ? A drunk, stoned, and psychoactive-influenced, intellectual, naked black-man, running down the streets of suburban Texas, in horrific weather ? It's like the opening to the next Cohen Brothers film...

[El duderino_]

via Imgflip Meme Generator

Gonna give whiskey another chance, which one should I take??

BTCMILLIONAIRE ??

Live is too short for whiskEy. Good choice having an extra glass of whine instead.

‘Proost’?

'Proost = Dutch (holland), Belgium = Schol or gezondheid .....

[El duderino_]

https://i.imgflip.com/31b2a9.jpg
Gonna give whiskey another chance, which one should I take??

You could be like Calvin Ayre and go for the Bushmills 10YO.

F***  cannot take the same sh*t as that F***er

[Biodom]

I am sorry, but the unfortunate conclusion is that BTC markets are still shitty (which is true at least for bitstamp).
IMHO, crypto markets need to link up and distribute liquidity (split the order routing automatically into multiple exchanges in a situation like this).

Example: $35 mil order of a $143.5 bil asset is just 0.024% of the asset value.
It is the same as if someone would place a sell order of $211 mil in AAPL stock.
Do you think that AAPL would go down 24% as a result?
Of course, not.