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

[JayJuanGee]

330 btc wall on stamp now. someone does not want the price to move beyond $12500

Yes. been watching it. They are trying to force the price down while bitfinex is down because reasons

one needs 67 btc to move the price down 1% on stamp. but almost 400 btc to move it up 1%
never seen this. is it common?
http://data.bitcoinity.org/markets/books/USD

I think that is common when the price is moving a lot in one direction  The order books do not fill up on the downside fast enough, and it looks like there is a decent amount of resistance, but ends up being NOT.  Ends up being a good way for bears (and other sellers) to lose their coins with bulls having something to buy into.  hahahahahahahaha.. funny how that works... and works and works... until it doesn't.

Yes, surely most of us recognize that this outrageous UP cannot last forever, but "feels good man" while it is happening, especially for HODLers.

Let's see if it's only a dip or a bigger correction. Much needed imho.

I would say that it's not only much needed, but somewhat overdue...

An "overdue" that might not happen.

Pee pare ur selfie for UP, too...... NOT merely for down.     

Yes, this is bitcoin. As a long-time HODLer, I'm well prepared for UP and I don't want it to go down at all, but it's impossible. Such long uninterrupted ralies, while very fun to watch, eventually make me uneasy. There will be a dip sooner or later... but I'm also mentally prepared for it. $12600. That's a bit crazy, but again, this is bitcoin

No argument from me, and thanks for the clarification regarding your own personal stance..... in essence, you are not wishing for DOWN, but you are shocked like the vast majority of us regarding the extent of this ongoing and intense UP.

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[HairyMaclairy]

Well funding rates are through the roof.  Normally 0.01%. But who cares.

[ip365]

well i think that we'll see dump action soon ... price correction have to be done !

[JayJuanGee]

I hate to get you back "on topic" jbreher, but I would like to confess that I made a bit of a orderbook/laddering/incrementalism "screw up."  

I had some sell orders fill in around the $11,950 price area, so I was resetting my buy orders, and the price was around $11,867, but I was setting one of my buy orders to buy back some of my coins in the $11,200 arena, but instead of typing $11,200, I fat fingered it (typed $12,200), and I accidentally bought immediately at $11,867.  

I know it's fashionable to hate on Coinbase 'round these here parts, but Coinbase will not let you make an order that is on the wrong side of the market. Such as buys for more than market nor sells below market. Rather than rounding to market, it just refuses to book the trade. Has kept me from making similar mistakes in the past. Might be worth looking into.

Edit (21 minutes later):
Problem resolved.  Correction sell order filled.  I reset the correction sell order for $11,982-ish... because there was a little bit of a wall of coins at $11,984, so I wanted to make sure that my orders got filled, instead of getting stuck..... but either way the matter was resolved because the price went up beyond my amounts, and I was able to reset my buy orders back to the original intended amounts

Congrats.

I probably have told my coinbase woes in the past.  Anyhow coinbase was one of my first places to buy bitcoin, and surely I used their trading platform for years too.  About a year ago, those fucktwats froze my account would not really give me any explanation, so in essence I have been kicked off of their platform.  Yes, I am familiar with their fat finger protection algorithm, I had been saved by that a few times too, on that particular platform (in the past).

Is it my imagination or did I just actually read a civil exchange between yogi and JJG?

It's your imagination.       

[jojo69]

So what is this I hear about horror stories of people making a test transaction out of a large old wallet only to fat finger the unspent change into an incompatible, unspendable address type??

How can this possibly happen if you are using Core or Ledger or Trezor?

It's getting to the hardware wallet I'm worried about.

[jbreher]

https://blockchainwhispers.com/bitmex-position-calculator/

 

Holy fuck lol

Isn't that indicator total bs? I mean, it's futures right?  Not money being borrowed, but contracts that always have an equal amount of counterparties, if I am not mistaken.

Arthur says: ::wink!:: ::wink::!

[Biodom]

Why btc is going vertical?
Two possibilities:

1. We don't know something important.
2. We are being played.

I worry about the second, hoping for the first.
This is not something usual.

3. It's just the baby steps and you are girly man.

only the penitent man will pass
https://www.youtube.com/watch?v=NkGTyndJC1w

[HairyMaclairy]

Someone said it then got help to resolve it with a few steps. Non story?

Cool. I'm taking a long flight tomorrow so you've just provided my reading material.



Here's something to ponder - https://old.reddit.com/r/BitcoinMarkets/comments/c5kv7z/daily_discussion_wednesday_june_26_2019/es3rptd/

https://old.reddit.com/r/BitcoinMarkets/comments/c5kv7z/daily_discussion_wednesday_june_26_2019/es3s3az/

'What is the best way to shake me out of my coins, 30% corrections (been through those last cycle, am conditioned), OR raise the price in unsustainable fashion where I am conditioned that I will be able to buy back in later after a correction?'

I keep having to leverage up to maintain my leverage ratio and moving my stop up.  This will come to an end at some point.

[P_Shep]

I like how BSV has flat-lined, and BCH has barely moved.

[arklan]

thanks for the advice on the miners guys.

[Last of the V8s]

Deribit down, killed it

Arthur says: ::wink!:: ::wink::!

[JayJuanGee]

I should prepare myself mentally for 9000, but I'm not in the mood.

The whole thing is just too fun!

Of course... of course...

Recently, I am thinking that the severity of the UP could justify a 50% or more correction.. at some point.

Of course, so many bears, no coiners, and fence sitters have been waiting for a 30% or more price correction since $4,200 on April 1,that largely has not quite materialized... so yeah, we are due, we are due... but since so many folks are increasingly waiting for such correction, it could end up not going as far down as expected.. but then again, it could end up going down 50% or more, just to attempt to take advantage of some downward momentum.. in the event it is possible to create such downward momentum, which is far from a given, too.

I don't really care either way, but since my BTC to fiat ratio still remains in about the 95% to 96% arena, I am way the fuck more rich with bitcoin prices going up (and even straight up) rather than getting some kind of "opportunity" to buy a bit more on any kind of dip that might happen, and currently, a dip has to be at least a few percentage points before any of my buy orders are even triggered, and sometimes even a bit more than 10% if I get stuck in a kind of limbo because my orders are getting further and further spread out (which is kind of part of my goal, too)....

[Toxic2040]

the noon wall report@4,368feet Brought to you by GAINZ CORP and the B.B.L.M.T.



#dyor
1h


D

#stronghands'19

[Biodom]

Interestingly, GBTC premium actually decreased today to 27.8%.
again two possibilities:
1. Maybe ETF is about to be approved.
2. It predicts an incoming correction.

Hoping for #1, although IDGAF about an ETF.

[vroom]

totally useless tether premium report - TUTPR

now with candlesticks! everybody loves candles

[BitcoinNewsMagazine]

Ahem...we pierced 61.8 Fib retracement, next stop 78.6%.
Not sure if to calculate from just the top ($19780) or from the prior move (1160 to 19780=18620 points).
If the latter, then it is $15795; if the former, then $15547.

Proper Fibonacci retracement levels:

[gentlemand]

Interestingly, GBTC premium actually decreased today to 27.8%.
again two possibilities:
1. Maybe ETF is about to be approved.
2. It predicts an incoming correction.

Is anyone bothering to monitor a correlation with the premium? I presume it's considerably less liquid than the conventional markets so some spikes may not be all that logical.

[ip365]

well i think that we'll see dump action soon ... price correction have to be done !

YOU FUCK OFF !!!

we'll see )

[Biodom]

Ahem...we pierced 61.8 Fib retracement, next stop 78.6%.
Not sure if to calculate from just the top ($19780) or from the prior move (1160 to 19780=18620 points).
If the latter, then it is $15795; if the former, then $15547.

Proper Fibonacci retracement levels:

https://bitcoinnewsmagazine.com/wp-content/uploads/2015/10/bitstamp-btcusd-Jun-26-2019-16-21-26.png

thanks for the accurate numbers. I see that it is counted from the decline, not from the previous run-up.
yet, the numbers are similar (16.1 vs 15.8K).

Interestingly, GBTC premium actually decreased today to 27.8%.
again two possibilities:
1. Maybe ETF is about to be approved.
2. It predicts an incoming correction.

Is anyone bothering to monitor a correlation with the premium? I presume it's considerably less liquid than the conventional markets so some spikes may not be all that logical.

I do, but very infrequently. Previously, large run-ups in GBTC premium indicated a sharp short-term btc correction, like in mid June 2016, when premium was about 100%.

[UnDerDoG81]

Heading to 14k. Now thats too fast.