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

[JayJuanGee]

And bears offered us humble pie this morning.

Bears have had their moments in the sunshine in the past few months and maybe even in the past 12 hours... but again, the proof of the pudding is going to be in the eating and we are on our way to the feast.... maybe we will be getting a few appetizers on the way, and we may get diverted for a few cigs and beers... yet, a feast seems in our near future... The cards seems to be stacked accordingly.  Thanks Bitcoin infrastructure developers, merchants and HODLERs...

[elg]

no problem loading Stamp here

[Krabby]

Bid side is not looking too strong.

Edit: massive ask wall.

[JorgeStolfi]

Beware that it is 4:00 am in China.  Check the order books there...

what are you implying?

That there is no resistance from China against Bitstamp's upward pressure at this moment; but that may change in 2-3 hours, when the Chinese start trading again.

[elg]

big dumps, but great support. not going down

[keithers]

wtf bitstamp... Can't log in

is the billy bot still buying?

Billy Bot...that is a good one...is that the Willy Bot on Bitstamp?

[Krabby]

wtf bitstamp... Can't log in

is the billy bot still buying?

Billy Bot...that is a good one...is that the Willy Bot on Bitstamp?

Yes.

[Gingermod]

wtf bitstamp... Can't log in

is the billy bot still buying?

Billy Bot...that is a good one...is that the Willy Bot on Bitstamp?

Yes.

https://www.youtube.com/watch?v=E781QE7ZQK8

[fonzie]

Bitstamp/Bitfinex/Huobi-  RxIxP 2014

[MatTheCat]

Bid side is not looking too strong.

Order book is exact same as it was before this whale (s) came in and bought over 1200BTC in two big mammoth orders. One 600 BTC market order, which took the price from $640 to $660, and then a 750BTC order placed at $665, which was eaten up by sellers. Presuming that there is nothing nefarious going down here like the exchanges having been hacked, then perhaps this was a very ill-advised and totally botched ramp attempt? Ramp the price with a 600 BTC market order, and then have a 750 BTC limit order sitting just below spot. A few days ago, this would have instigated a mad panic buying spree. But spot price just hovered above the buy wall, and then sellers ate it up.



Who knows, would be nice to get explanations somehow for these totally inexplicable and wholly unpredictable events.

Insider Short Squeeze from the fucking crooks nice lads at Bitfinex?

[hyphymikey]

We need a 3K market buy and tell this bear, his walls, and his dumps to fuck off.

[hyphymikey]

Bid side is not looking too strong.

Order book is exact same as it was before this whale (s) came in and bought over 1200BTC in two big mammoth orders. One 600 BTC market order, which took the price from $640 to $660, and then a 750BTC order placed at $665, which was eaten up by sellers. Presuming that there is nothing nefarious going down here like the exchanges having been hacked, then perhaps this was a very ill-advised and totally botched ramp attempt? Ramp the price with a 600 BTC market order, and then have a 750 BTC limit order sitting just below spot. A few days ago, this would have instigated a mad panic buying spree. But spot price just hovered above the buy wall, and then sellers ate it up.



Who knows, would be nice to get explanations somehow for these totally inexplicable and wholly unpredictable events.

Insider Short Squeeze from the nice lads at Bitfinex?

Whats odd is that the wall got eaten so quick, as if Mr Whale Bear was sitting as his computer waiting.

[oda.krell]

WHAT'S GOING ON

Apple Just Opened The Door For Bitcoin Apps http://www.businessinsider.com/bitcoin-apps-in-the-app-store-2014-6

That does not account for this crazyness

Well, how about: lots of traders took profit at likely peak (possibly even reversal) target yesterday (SMA200, ~doubling since 340 bottom).

Then, when it started to look like that didn't derail the rally, some decided to buy back in, creating momentum, so more bought back, etc.

[JimboToronto]

WHAT'S GOING ON

Apple Just Opened The Door For Bitcoin Apps http://www.businessinsider.com/bitcoin-apps-in-the-app-store-2014-6

That does not account for this crazyness

Well, how about: lots of traders took profit at likely peak (possibly even reversal) target yesterday (SMA200, ~doubling since 340 bottom).

Then, when it started to look like that didn't derail the rally, some decided to buy back in, creating momentum, so more bought back, etc.

Makes sense.

[MatTheCat]

Whats odd is that the wall got eaten so quick, as if Mr Whale Bear was sitting as his computer waiting.

Haxx?

[MatTheCat]

Then, when it started to look like that didn't derail the rally, some decided to buy back in, creating momentum, so more bought back, etc.

Were you watching how it happened Oda?

It was very very strange.

[chilin_dude]

This has to be a scam right, its getting lots of upvotes from what i'm pretty sure are spam/scam bots, and the good posts getting downvoted, on reddit:
http://www.reddit.com/r/Bitcoin/comments/2757mx/bitcoin_arbitrage_method_45/

Buying bitcoins via paypal, the few critical replies have been downvoted to hell:

[–]absentmindedprofesso [+1] -4 points 12 minutes ago (6|10)
Relevant: http://www.reddit.com/r/Bitcoin/comments/261r1t/scam_alert/

Please upvote for awareness.

[MOB]

Whats odd is that the wall got eaten so quick, as if Mr Whale Bear was sitting as his computer waiting.

Haxx?

Or just people who bought on the plunge yesterday were ready for a quick 10% profit in 24 hours...The bid wall was only 500K USD @665.

Also, I do not think the entire thing was sold into.  Only about 2/3rds, then I think it got pulled.

[N12]

Then, when it started to look like that didn't derail the rally, some decided to buy back in, creating momentum, so more bought back, etc.

Were you watching how it happened Oda?

It was very very strange.

Based on his description, I'm guessing he partook in it.

I don't know if it was strange. What I do find strange is how Huobi is now again behind Bitstamp (not sure Chinese sleeping accounts for this). Was yesterday a mere fluctuation in the price delta or have conditions changed again? I'm afraid noone truly knows, not even the Chinese.

[MatTheCat]

Or as if everyone who bought on the plunge yesterday was ready for a quick 10% profit in 24 hours...The ask wall was only 500K @665.

Not on the ticker I was staring at.

750K, with a similar one on Bitfinex a couple of dollars down at around $663, which would suggest that the Ask wall was made on Bitfinex and routed through Bitstamp. 50% chance of anything to do with Bitfinex being crooked. I never trust a wall on Bitfinex. I panic bought in at top of market, noticed that the wall was made on Bitfinex and not Stamp, and panic sold again for $3 cheaper than I bought.

I fucking hate Bitfinex.