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

[ChartBuddy]

Explanation

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[JorgeStolfi]

Huobi's volume for today (Sat May/17 UTC) is only 8.8 kBTC.

There are still 4 hours left before 24:00 UTC, which would be 08:00 Sunday morning in China, so perhaps it may still grow a bit.  In any case it will probably be the lowest this year, much less than the 18.0 kBTC of Mar/23 (a Sunday when the exchange was down for ~4 hours in mid-afternoon), and the 15.3 kBTC of Jan/31 (the Chinese New Year Day).

Previous comparable lows were 9.6 kBTC on Dec/03, 2013 (following the first crash after the all-time high; was the exchange down during that day?); and 8.7 kBTC on Nov/03, 2013 (the eve of the big rally, after the price had been mostly flat at 200$ for some ten days). 

Considering the latter, this low volume may be taken as a bullish sign. 

[shmadz]

Huobi's volume for today (Sat May/17 UTC) is only 8.8 kBTC.

There are still 4 hours left before 24:00 UTC, which would be 08:00 Sunday morning in China, so perhaps it may still grow a bit.  In any case it will probably be the lowest this year, much less than the 18.0 kBTC of Mar/23 (a Sunday when the exchange was down for ~4 hours in mid-afternoon), and the 15.3 kBTC of Jan/31 (the Chinese New Year Day).

Previous comparable lows were 9.6 kBTC on Dec/03, 2013 (following the first crash after the all-time high; was the exchange down during that day?); and 8.7 kBTC on Nov/03, 2013 (the eve of the big rally, after the price had been mostly flat at 200$ for some ten days). 

Considering the latter, this low volume may be taken as a bullish sign. 

When even Stolfi starts turning bullish, then you KNOW it's time to buy.

[Feri22]

Just found this chart from November 2013....I am starting to believe 100 000 USD in 2016 is inevitable  

[zimmah]

Just found this chart from November 2013....I am starting to believe 100 000 USD in 2016 is inevitable  

surprisingly accurate, and the truth may even be more bullish than the chart. I mean 1000 in August?

[UglyTroll]

Funny as hell Circlejerk 

[Feri22]

Just found this chart from November 2013....I am starting to believe 100 000 USD in 2016 is inevitable  

surprisingly accurate, and the truth may even be more bullish than the chart. I mean 1000 in August?

...long term - the price is now exactly where it should be (in average), actually underpriced...i hope it will give some of you noobs and bag holders little bit peace of mind when you see this chart...CCMF soon

[shmadz]

Funny as hell Circlejerk 

Indeed.

[ChartBuddy]

Explanation

[octaft]

Guys, if you dont care that merchants are not holding onto their coins.....and not many new people with fiat are arriving in the system...do you think current price levels are sustainable? Merchants care about USDs received from your purchases and as third party services are selling your coins = eating what little fiat there is left, shouldnt the price drop in the long term?

dude, I get that you're new, but I think you just don't quite get what this means yet. You're well on your way, and no one can tell you this kind of stuff, you really need to figure it out for yourself.

good luck

No one can tell him this kind of stuff because I suspect at least half the people on here act like they know the answers, but don't. You can spot them easily by the "look at the previous threads," which to me means "look at the previous threads, but I totally never did because TO DA MOON!"

Hi Octa, I think no one can tell anyone about this kind of stuff.  I think you can make suggestions and observations, but this kind of stuff is so far beyond most people's reasoning that it is pretty much a waste of time trying to explain it.

 I didn't mean to imply that looking at previous threads would have any meaningful impact on the level of understanding of an individual (although it probably would) - what I meant to convey was the idea that -in today's world- a person's consciousness will tend to reject ideas that are not placed there by TV and gov't. I'm trying to say that this is the kind of stuff that you really need to figure out for yourself, because it is completely different from everything you've ever been taught or told.


anyways, the way that I try to tackle the problem is first I try to first understand or identify the limits of the technology, then try to understand the ramifications of the implementation of this technology in our current system. after that I might try to imagine the impact going forward... after the mass adoption and infrastructure has been built.

Well you didn't angrily direct the guy to another thread and tell him to STFU with his FUD and stop asking stupid questions that have been asked ad nauseam, so you're more the catalyst for my response than the target. For all the marketing some of these people do, you'd think they'd have something actually relevant to say when presented with questions, even if it is the 100th time it's been asked over the course of several years. To expect a person new to bitcoin to read through years of posts just to maybe kinda sorta get an answer (but mostly they'll find more "LOOK AT PREVIOUS THREADS ASSHOLE" responses, it's like a daisy chain of bullshit) just pisses me the fuck off, especially when you consider it's asking someone to sort through a bunch of "CHOOOOO CHOOOO" and "SINGLE DIGITS INCOMING BAGHOLDERS" nonsense to find one little speck of a gem.

It's like, if it's so fucking obvious an answer, then why don't you just fucking spend 5 minutes of your time to save this poor guy 5 hours?

BTW, respect to you for the dignified and classy response.

[Walsoraj]

Well you didn't angrily direct the guy to another thread and tell him to STFU with his FUD and stop asking stupid questions that have been asked ad nauseam, so you're more the catalyst for my response than the target. For all the marketing some of these people do, you'd think they'd have something actually relevant to say when presented with questions, even if it is the 100th time it's been asked over the course of several years. To expect a person new to bitcoin to read through years of posts just to maybe kinda sorta get an answer (but mostly they'll find more "LOOK AT PREVIOUS THREADS ASSHOLE" responses, it's like a daisy chain of bullshit) just pisses me the fuck off, especially when you consider it's asking someone to sort through a bunch of "CHOOOOO CHOOOO" and "SINGLE DIGITS INCOMING BAGHOLDERS" nonsense to find one little speck of a gem.

It's like, if it's so fucking obvious an answer, then why don't you just fucking spend 5 minutes of your time to save this poor guy 5 hours?

BTW, respect to you for the dignified and classy response.

^angry bagholder^

[ChartBuddy]

Explanation

[JorgeStolfi]

I suspect that there are Chinese who open an account at Huobi just for the pleasure of moving orders up and down the book, while carefully avoiding being caught by an actual trade.

[EuroTrash]

Higher lows and imperceptibly lower highs at each oscillation on Stamp 1h chart. Volume still dropping. It feels like it is about to flat line. Breakout soon?

[tupelo]

I suspect that there are Chinese who open an account at Huobi just for the pleasure of moving orders up and down the book, while carefully avoiding being caught by an actual trade.

That is a tough game. The goal is to get as close to the ticker price without getting caught.
Forget mahjong, chess or go... spread hopping is the new thing.
Soon it will be played by old chinese men duelling via real-price bitcoin ATMs at their village's main square.

[silverfuture]

I suspect that there are Chinese who open an account at Huobi just for the pleasure of moving orders up and down the book, while carefully avoiding being caught by an actual trade.

Crazy, sounds kind of like opening a btctalk account to participate in a wall observer thread while carefully avoiding to actually make any trades.

[octaft]

Well you didn't angrily direct the guy to another thread and tell him to STFU with his FUD and stop asking stupid questions that have been asked ad nauseam, so you're more the catalyst for my response than the target. For all the marketing some of these people do, you'd think they'd have something actually relevant to say when presented with questions, even if it is the 100th time it's been asked over the course of several years. To expect a person new to bitcoin to read through years of posts just to maybe kinda sorta get an answer (but mostly they'll find more "LOOK AT PREVIOUS THREADS ASSHOLE" responses, it's like a daisy chain of bullshit) just pisses me the fuck off, especially when you consider it's asking someone to sort through a bunch of "CHOOOOO CHOOOO" and "SINGLE DIGITS INCOMING BAGHOLDERS" nonsense to find one little speck of a gem.

It's like, if it's so fucking obvious an answer, then why don't you just fucking spend 5 minutes of your time to save this poor guy 5 hours?

BTW, respect to you for the dignified and classy response.

^angry bagholder^

^worthless troll^

[JorgeStolfi]

Crazy, sounds kind of like opening a btctalk account to participate in a wall observer thread while carefully avoiding to actually make any trades.

[edwardspitz]

I suspect that there are Chinese who open an account at Huobi just for the pleasure of moving orders up and down the book, while carefully avoiding being caught by an actual trade.

That is a tough game. The goal is to get as close to the ticker price without getting caught.
Forget mahjong, chess or go... spread hopping is the new thing.
Soon it will be played by old chinese men duelling via real-price bitcoin ATMs at their village's main square.

I can picture it: A warm summer evening and the old men have gathered on the main square for glass of Baijiu and a game of virtual spread hopping... reminiscing the old days when they were trading on Huobi and OKCoin.

[ChartBuddy]

Explanation