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

[ShroomsKit]

Testing: Not sure what's going on.


Explanation

You are late bro

Interestin chart. The orders are of a normal magnitude, but the asks are much lower than normal.
Presumably there are few asks as the price has fallen so much, so historic asks are off the chart.
The price appears to have stabilised at 400.
Perhaps there was some significant sellers have now exited.

Every weak hand who wanted to sell has. No point selling now. The price is down a lot sure, but a lot of coins have moved hands, we can potentially go up after some meandering round.

Ah the weak hands are gone. Everything will be fine now.

[1715553383]

1715553383

[1715553383]

1715553383

[adamstgBit]

Starting at 01:00 UTC

weeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee

[inca]

Blitz any chance you or the other mods could get newbie jail reinstituted. The proliferation of annoying trolls is ridiculous.

[adamstgBit]

if you have fiat locked and loaded.... you know what to do.

[Hunyadi]

And I don't even like TA.

Sorry for the dimness but what does this imply?

Higher low 

[ImI]

Blitz any chance you or the other mods could get newbie jail reinstituted. The proliferation of annoying trolls is ridiculous.

there should be a bann option just for threads. so a self-moderated thread could simply keep troll-fuckers out of their threads by a single klick.

[Cassius]

Chartbuddy just became self-aware.
Bullish? Or is this going to end like T2: Judgement Day?

[Sandia]

The price increase seems to be shorts closing, not normal buying, at least on Bfx.

[JorgeStolfi]

what happened? what variance? no block found for a few hours?

From the blockchain.info quotes, I understood that there was a ~40 minute gap without a block.

we're fine
http://coinorama.net/blockchain

Block 321522 took 36 minutes, but next ones were OK.

[Kupsi]

And I don't even like TA.

Sorry for the dimness but what does this imply?

Big double bottom  





...just like in September last year...

[Newar]

And I don't even like TA.

[...]

Sorry for the dimness but what does this imply?

Something along these lines, but of course the data history of BTC is too short to make TA meaningful.

[JayJuanGee]

Interestingly when I tried to enter a purchase order at SecondMarket today I received this email:

Unfortunately it is unlikely that we will be able to sell you... BTC today… we have a fairly large Bitcoin Investment Trust order that we have to fill ahead of selling BTC to other counterparties.

Bullish?

bullish.

It is still pretty fucked that they do NOT have enough coins... maybe they should have been accumulating so they could fill all new orders.. dumb asses.

[vipgelsi]

At least the bleeding has stoped today.

[Hunyadi]

And I don't even like TA.

Sorry for the dimness but what does this imply?

Big double bottom  





...just like in September last year...

Why not quadro bottom?

[inca]

Testing: Not sure what's going on.


Explanation

You are late bro

Interestin chart. The orders are of a normal magnitude, but the asks are much lower than normal.
Presumably there are few asks as the price has fallen so much, so historic asks are off the chart.
The price appears to have stabilised at 400.
Perhaps there was some significant sellers have now exited.

Every weak hand who wanted to sell has. No point selling now. The price is down a lot sure, but a lot of coins have moved hands, we can potentially go up after some meandering round.

no more "weak hands" talk plz

thats just a bogus kind of explain movements in markets, i can tell ya that after trading for 20+ years at nymex,nasdaq etc

its just a misleading way of interpreting movements and costs you alot of money in the end

It is pretty clear to me that price drives sentiment with bitcoin. Newsflow is largely irrelevent unless it fits the price direction. The price has been helped down by large speculators and momentum delivered by weak handed holders until a 'crash' develops. Who do you think is buying the coins now?

[Cassius]

It is still pretty fucked that they do NOT have enough coins... maybe they should have been accumulating so they could fill all new orders.. dumb asses.

No, not really. That's not their business model.

[adamstgBit]

Interestingly when I tried to enter a purchase order at SecondMarket today I received this email:

Unfortunately it is unlikely that we will be able to sell you... BTC today… we have a fairly large Bitcoin Investment Trust order that we have to fill ahead of selling BTC to other counterparties.

Bullish?

bullish.

It is still pretty fucked that they do NOT have enough coins... maybe they should have been accumulating so they could fill all new orders.. dumb asses.

there accumulating now....

they can't instantly buy 3K bitcoins to satisfy orders that would move price up, and they want cheap coins, like everyone else...

[Newar]

there accumulating now....

they can't instantly buy 3K bitcoins to satisfy orders that would move price up, and they want cheap coins, like everyone else...

I didn't think they would buy on exchanges with that sort of money on hand?

[adamstgBit]

there accumulating now....

they can't instantly buy 3K bitcoins to satisfy orders that would move price up, and they want cheap coins, like everyone else...

I didn't think they would buy on exchanges with that sort of money on hand?

i think they buy of exchanges and also poeple come to them to sell bitcoin.

[empowering]