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

[Nicholas-Carraway]

yes, I have been following this too.   I have been holding onto LTC for awhile...considering flipping a few back into BTC
[/quote]

Charts look like a little selling of BTC in China for a bit more LTC trading.  We'll see in next few days at Huobi.

[JayJuanGee]

So, if loss of bid depth on both sides is dramatically measurable, that likely translates to a short-term loss of interest in BTC and likely downward trends....

I say it means hoarding has really begun.

Trading and hoarding are two different concepts.... .. ... ... YET I take it that a fair translation,in the trading, scenario would be that hoarding is HODLING....... which means... I am NOT giving up my coins until the price goes up....    

not to scare you, but what if the price never goes back up? it's certainly a possibility that you must consider.

YES>>>>>> I believe that the bears have reminded readers of this thread sufficiently that we readers CANNOT for get about that NOT GOING UP possibility...... so yes, I have considered that possibility, and I am NOT too SCARED !!!!!!!!!!,    yet.

[arepo]

So, if loss of bid depth on both sides is dramatically measurable, that likely translates to a short-term loss of interest in BTC and likely downward trends....

I say it means hoarding has really begun.

a WILD CONJECTURE has appeared!

pretty sure it was just traders shifting the position of their orders in response to the first significant price action in almost a week. i forgot how far you guys in this thread will extrapolate and exaggerate any innocent data...

I would NOT describe a $5 to $10 downward trickling movement as a "significant price action."

then you have something to learn about price movement. not only is a $15 movement in a 6-hour period the largest range we have seen in about a week, the volume associated with the movement is the largest we've seen in that same time frame. this makes it significant in magnitude if only in comparison to the watching-paint-dry-caliber price behavior this past week. it is also significant in that it may herald a steady increase in volatility from here on out after that painfully quiet consolidation.

[Walsoraj]

And steadily declining total bid sum.

[seleme]

So, if loss of bid depth on both sides is dramatically measurable, that likely translates to a short-term loss of interest in BTC and likely downward trends....

I say it means hoarding has really begun.

a WILD CONJECTURE has appeared!

pretty sure it was just traders shifting the position of their orders in response to the first significant price action in almost a week. i forgot how far you guys in this thread will extrapolate and exaggerate any innocent data...

I would NOT describe a $5 to $10 downward trickling movement as a "significant price action."

then you have something to learn about price movement. not only is a $15 movement in a 6-hour period the largest range we have seen in about a week, the volume associated with the movement is the largest we've seen in that same time frame. this makes it significant in magnitude if only in comparison to the watching-paint-dry-caliber price behavior this past week. it is also significant in that it may herald a steady increase in volatility from here on out after that painfully quiet consolidation.

However you describe it move from 630 to 620 is not significant move, specially in Bitcoin. It might go down more of course and make it significant but no fancy big words talk could make it significant at this moment.

[keithers]

again, we need to make it back to Stamp's comfortable home at $666...we haven't been home in a little while...

blockchain.info needs to come back online too

[TERA]

This is actually the worst order book (ratio) I have ever seen in Bitcoin. All of the gox orderbooks in apr-jul 2013 even at their worst looked better than this.

[ChartBuddy]

Explanation

[arepo]

I would NOT describe a $5 to $10 downward trickling movement as a "significant price action."

then you have something to learn about price movement. not only is a $15 movement in a 6-hour period the largest range we have seen in about a week, the volume associated with the movement is the largest we've seen in that same time frame. this makes it significant in magnitude if only in comparison to the watching-paint-dry-caliber price behavior this past week. it is also significant in that it may herald a steady increase in volatility from here on out after that painfully quiet consolidation.

However you describe it move from 630 to 620 is not significant move, specially in Bitcoin. It might go down more of course and make it significant but no fancy big words talk could make it significant at this moment.

no big words necessary. $635-$620 is a range of $15, in 6 hours. this is the largest range in any 6-hour period in the last 7 or so days. the associated volume is also greater than any 6-hour period in the last 7 or so days. the move in itself is not a significant price move, but it carries significance in relation to the price environment. but i guess it doesn't matter much to someone who's so damn rich they can't help but post their holdings any chance they get

also, as if on cue, a massive askwall just appeared at $630.

[MAbtc]

2k wall at 630. Someone wants the price to go down. 

[seleme]

this is the largest range in any 6-hour period in the last 7 or so days.

7 days is nothing, 2% is nothing in Bitcoin, current boring situation is unusual. Move on, you know just as I do that we'll see significant moves in either direction soon so why making nothing to be significant.

[solex]

This is actually the worst order book (ratio) I have ever seen in Bitcoin. All of the gox orderbooks in apr-jul 2013 even at their worst looked better than this.

The problem is, in hindsight, how legitimate were those order books.

True, the gox orderbooks were probably 70-90% fake fiat and fake coins.

[BubbaGumpShrimpinBoatCapn]

Is anyone considering that a powerful operation is dead set on destroying the value of bitcoin once an for all?  International effort would be a piece of cake. 


Happy st paddy's

[arepo]

this is the largest range in any 6-hour period in the last 7 or so days.

7 days is nothing, 2% is nothing in Bitcoin, current boring situation is unusual. Move on, you know just as I do that we'll see significant moves in either direction soon so why making nothing to be significant.

-facepalm-

we're mincing words at this point. it is not a "SIGNIFICANT MOVE" as far as bitcoin price action is concerned, but it carries information in the short-term. it strengthens the case for a movement downward before we break above the mid-term resistance. you may disagree, but try not to sound so categorically correct when you do.

[TERA]

Is anyone considering that a powerful operation is dead set on destroying the value of bitcoin once an for all?  International effort would be a piece of cake.  


Happy st paddy's

Here's the skinny: 2 out of 3 of the world's superpowers (Russia and China) are against Bitcoin. This leaves only the Unites States left to really support Bitcoin and set an authoritative precedent in the world. Also ,exchanges are dropping like flies. This year Bitcoin is actually experiencing a "reverse adoption" like never before (except maybe 2011) which is outweighing the adoption. The only hope left is that the United States continues to embrace Botcoin and that these exchanges start opening in New York in June. If I see that this is not going to happen then I will be leaving.

[MAbtc]

it is not a "SIGNIFICANT MOVE" as far as bitcoin price action is concerned, but it carries information in the short-term.

Exactly. Earlier today when I posted a chart illustrating the support breach this morning and lack of pressure to fuel a strong bounce, I was told I was over-analyzing. And I thought, do people around here wait for a sell-off to conclude that the price might go down? I'm trying to close or accumulate position before that occurs....

[arepo]

it is not a "SIGNIFICANT MOVE" as far as bitcoin price action is concerned, but it carries information in the short-term.

Exactly. Earlier today when I posted a chart illustrating the support breach this morning and lack of pressure to fuel a strong bounce, I was told I was over-analyzing. And I thought, do people around here wait for a sell-off to conclude that the price might go down? I'm trying to close or accumulate position before that occurs....

yeah it seems many traders around here don't understand the idea of keeping ahead of the market. chasing the market is more obvious, but obviously less profitable

it also doesn't require empirical methods of constructing a workable signalling theory like the one i outlined in my last post. but then again, many traders here don't even "believe in" TA at all

[seleme]

Price was set to go down before this significant move tbh  

Whenever there's no volume on Bitcoin, you can bet the price will go down.

[Adrian-x]

not to scare you, but what if the price never goes back up? it's certainly a possibility that you must consider.

Being struck by an asteroid is certainly a possibility too, I for one will owe Mark Williams a formal apology and admit his prediction that Bitcoin is a bubble and will go to $10. If we don't see a new ATH in the next 12 months feeling bullshit I'll say 2.

[seleme]

Now we need that "never seen before" bubble chart to put these "it might never go back up" talk in the time frame on it