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

[Timmmaahh]

600... you shall not pass
30 min and stamp has eaten it

[CEG5952]

Action heating up a bit. Bid whale on BFX back to pumping. 500 ask still there on Stamp, slowly getting eaten but no real damage yet. Meanwhile, Huobi is still asleep and drove this with bots on no volume almost....

[wobber]

This movement is so insignificant it's not even funny to watch. Wake me up when we go beyond 670. I mean, next year.

[BTCfan1]

This movement is so insignificant it's not even funny to watch. Wake me up when we go beyond 670. I mean, next year.

seems to me like things are just beginning...

[CEG5952]

Yep, another $10 move and no follow-through. We could very well get an up-leg, but this looks nothing like the start of some of the crazy pumps we've seen in the past few months. Might still just fizzle out and bleed down. Huobi did stop right at descending triangle top (short term).

[ChrisML]

When the stamp wall is gone and it passes $615 im satisfied.

When BTC-E gets beyond $605 im satisfied.

For now.. it's just a shitstorm that can go 3 ways. Up,down or sideways.

[CEG5952]

When the stamp wall is gone and it passes $615 im satisfied.

When BTC-E gets beyond $605 im satisfied.

For now.. it's just a shitstorm that can go 3 ways. Up,down or sideways.

My thinking as well. Have not seen a clear breakout yet. We see so many fakeouts/whipsaws these days, I try not to get too excited over a $10 jump anymore. Like you said, up, down or sideways....

[JorgeStolfi]

And the Finex is off 

Since everybody has me on ignore by now, no one will mind me observing that the price on OKCoin and Huobi started to rise several minutes before that big buy at Bitfinex.  Thus that buy may be just an arbitrage trade, delayed by the trading fees at Bitfinex and perhaps by residual price mismatch.

That rise in the Chinese exchanges was almost predictable: now is 6:40 am in China, about the time when the first traders "wake up".  I have not checked statistically, but somehow I got the impression that the early-risers tend to be more bullish than average.  So the Chinese day tends to begin with a price rise, that may be reversed later.  But, again, this is only an impression.

[wobber]

It seems it mostly goes sideways or down. Anyway, too many people wait for a big bubble and that's the reason I'm reluctant to believe that we can go beyond $700. At least this year.

[Carra23]

600... you shall not pass
30 min and stamp has eaten it

Weekend over so not surprising.

Will see if it has some big movement eitherway by Wednesday or Thursday.

[ShroomsKit]

Not much happening. No volume.

[aminorex]

That rise in the Chinese exchanges was almost predictable: now is 6:40 am in China, about the time when the first traders "wake up".  I have not checked statistically, but somehow I got the impression that the early-risers tend to be more bullish than average.  So the Chinese day tends to begin with a price rise, that may be reversed later.  But, again, this is only an impression.

I would presume they were day-trading, in the strictest sense:  They stay in fiat overnight, buy to start, and close out by eob.

[CEG5952]

That rise in the Chinese exchanges was almost predictable: now is 6:40 am in China, about the time when the first traders "wake up".  I have not checked statistically, but somehow I got the impression that the early-risers tend to be more bullish than average.  So the Chinese day tends to begin with a price rise, that may be reversed later.  But, again, this is only an impression.

I often get this impression as well when watching Huobi in their morning hours. Often we see a small pump, which fizzles out after a relatively short time, and often we see a reversal.... fakeout.

[ChartBuddy]

Explanation

[edwardspitz]

And the Finex is off  

Since everybody has me on ignore by now, no one will mind me observing that the price on OKCoin and Huobi started to rise several minutes before that big buy at Bitfinex.  Thus that buy may be just an arbitrage trade, delayed by the trading fees at Bitfinex and perhaps by residual price mismatch.

That rise in the Chinese exchanges was almost predictable: now is 6:40 am in China, about the time when the first traders "wake up".  I have not checked statistically, but somehow I got the impression that the early-risers tend to be more bullish than average.  So the Chinese day tends to begin with a price rise, that may be reversed later.  But, again, this is only an impression.

No, this has been brewing for several hours. The spike at Finex is most likely traders closing their shorts. Wall at Bitstamp changed and I think this is what started it all. If the $480 BTC wall is pulled or eaten price could easily go to $617 (if it gets past $605). There are some long term lines that needs to be broken and $600 is one of them... If it breaks and goes past $610 that will be significant in my opinion. We will see what happens.

[CEG5952]

The 500 BTC wall has been there for like a day. Unless it was pulled in between the hours I checked, it never left. It's real and has been getting chewed on a bit. But it hasn't been pulled..... we'll see if anyone is willing to buy it.

[ChartBuddy]

Explanation

[ubercool]

The 500 BTC wall has been there for like a day. Unless it was pulled in between the hours I checked, it never left. It's real and has been getting chewed on a bit. But it hasn't been pulled..... we'll see if anyone is willing to buy it.

Market trying to touch 600 mark again, there is 457 coins wall, I think this time it will break.

[shmadz]

The 500 BTC wall has been there for like a day. Unless it was pulled in between the hours I checked, it never left. It's real and has been getting chewed on a bit. But it hasn't been pulled..... we'll see if anyone is willing to buy it.

Market trying to touch 600 mark again, there is 457 coins wall, I think this time it will break.

I'm not watching it real closely, but it seems to me that it's been more than just chewed, it's been gobbled up a few times and it just keeps getting replenished.

It's a little scary to think that someone has an almost never ending supply and appetite to sell at that level... I actually expected the wall was there to keep the price in check before the auction, but I'm not sure I understand the motivation behind the wall now that the auction is over.

[N12]

Of course everytime we go above 600, manipulators put up walls and the sheep panic sell. Fucking idiot traders.