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

[ChartBuddy]

Explanation

[Wekkel]

Bull markets are born in pessimism, grow in skepticism, mature in optimism, and die in euphoria.

There is no pessimism yet, so I do not expect any fireworks soon.

[JayJuanGee]

Bull markets are born in pessimism, grow in skepticism, mature in optimism, and die in euphoria.

There is no pessimism yet, so I do not expect any fireworks soon.

Maybe the price will NOT shoot up for several weeks after september 1st, so we still have some time (maybe a few weeks) to continue to accumulate coins, just like the big wigs are doing? 

Accumulating anywhere between 100 and 200 BTC should be a pretty decent position to be in.. even though lower quantities of BTC may suffice too, and even larger quantities will give even a greater feeling of security with a cushion.. in order that we would be able to sell a few coins when the price is between $5k and $10k.. just to shave off a few coins for when the price bounces back down to the low $2-$3k arena.... and then to buy back again.. at those lower prices in the $2-3k range.. Well better to buy some now, but sometimes it is tough to set aside enough cash without becoming overly stretched.

[zby]

Bull markets are born in pessimism, grow in skepticism, mature in optimism, and die in euphoria.

There is no pessimism yet, so I do not expect any fireworks soon.

Maybe the price will NOT shoot up for several weeks after september 1st, so we still have some time (maybe a few weeks) to continue to accumulate coins, just like the big wigs are doing? 

Accumulating anywhere between 100 and 200 BTC should be a pretty decent position to be in.. even though lower quantities of BTC may suffice too, and even larger quantities will give even a greater feeling of security with a cushion.. in order that we would be able to sell a few coins when the price is between $5k and $10k.. just to shave off a few coins for when the price bounces back down to the low $2-$3k arena.... and then to buy back again.. at those lower prices in the $2-3k range.. Well better to buy some now, but sometimes it is tough to set aside enough cash without becoming overly stretched.

Still planning about selling between $5k and $10k - no rally!

[Sandia]

1500 coins to an avalanche.

[Hfertig]

What exactly is that whale on bitfinix with the 1300+ wall trying to do, keep prices down?

Probably getting out of his position ? If I would still hold that amount of coins, I would do the same and try to get out asap before Bitcoin goes any lower. 

[Hunyadi]

1500 coins to an avalanche.

Good graph! 

[ChartBuddy]

Explanation

[klee]

What happened @Stamp BID wall?

EDIT: It probably got moved after a part was eaten!

[Sandia]

What exactly is that whale on bitfinix with the 1300+ wall trying to do, keep prices down?

Probably getting out of his position ? If I would still hold that amount of coins, I would do the same and try to get out asap before Bitcoin goes any lower. 

If he wanted to dump his position, he could have done a market sell at 515 and received a much higher average selling price, including slippage.

He is pushing the market down, into his own buys, to accumulate coins.  Notice how the bid wall has fallen with the price.

[SFHere]

and there it goes....

[Hfertig]

What exactly is that whale on bitfinix with the 1300+ wall trying to do, keep prices down?

Probably getting out of his position ? If I would still hold that amount of coins, I would do the same and try to get out asap before Bitcoin goes any lower. 

If he wanted to dump his position, he could have done a market sell at 515 and received a much higher average selling price, including slippage.

He is pushing the market down, into his own buys, to accumulate coins.  Notice how the bid wall has fallen with the price.

This is certainly true. However, he might have been bullish in that moment and changed his mind. He has not moved or pulled his wall once small pieces were eaten, which makes it look like a genuine seller. Not to forget, every USD he is selling lower does cost him USD 1300. Who would want to accumulate coins at levels above USD 500 just before the weekend? Does not make sense in my view.

[SFHere]

What happened @Stamp BID wall?

EDIT: It probably got moved after a part was eaten!

Huobi is leading downward. As soon as that happen the wall disappeared. As I said there it goes

[falllling]

this dead cat bounce is going to finish soon just like the old ones

[klee]

and there it goes....

https://www.youtube.com/watch?v=h-9UvrLyj3k

[Sandia]

Someone estimated a few hours ago that 400 coins had been eaten.
He has probably bought thousands.  Do the math.

What does the weekend have to do with this?  If the weekend had a predictable effect on price, it would be arbitraged away as soon as the pattern appeared; if I know the price drops on Saturday, I will sell on Friday (then Thursday, then Wednesday, etc., etc.).

[Phillis]

price is slowly dropping on very little volume, all it takes is one whale to gobble it all up

[Hfertig]

Someone estimated a few hours ago that 400 coins had been eaten.
He has probably bought thousands.  Do the math.

What does the weekend have to do with this?  If the weekend had a predictable effect on price, it would be arbitraged away as soon as the pattern appeared; if I know the price drops on Saturday, I will sell on Friday (then Thursday, then Wednesday, etc., etc.).

Less money hitting the exchanges ? But you are right again, it could also go up. But in my view we are bound to go much lower.

[falllling]

price is slowly dropping on very little volume, all it takes is one whale to gobble it all up

and this one whale will never be there

[Davyd05]

finex on the low with btc-e and finex with a bigger red dildo