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

[ChartBuddy]

Explanation

[njcarlos]

I just hope Amazon will start accepting Bitcoin tomorrow. We then might reach 450. For 30 minutes.

Lol

[tarmi]

Mmmm

Simply no buy pressure  

Nope, not even with that big bid wall

Walls are contrarian indicators

exactly.

someone selling to 425 constantly, that wall must be fake.

[Torque]

I just hope Amazon will start accepting Bitcoin tomorrow. We then might reach 450. For 30 minutes.

So what happens when the bitcoin community finally runs out of "When [X] finally adopts bitcoin, it's to the moon!" events and the price still hasn't budged?  

[yokosan]

It is simple. Price next year will reach between $4,000 - $15,000

You would be stupid not to buy right now.

[JayJuanGee]

Mmmm

Simply no buy pressure  

Nope, not even with that big bid wall

Walls are contrarian indicators

Damn, that's why i lost all my money trading.

But seriously, i understand what you mean but the noob trader would usually get confident with such a wall and buy and vice versa. Even if it's a trap, nobody is buying.

Who would have Thunk that Shroooommmmieeee would exaggerate..... ??


Actually, volume has been pretty decent in the past 24 hours - even though prices have NOT quite returned to the $450s level (yet).

[sidhujag]

It is simple. Price next year will reach between $4,000 - $15,000

You would be stupid not to buy right now.

We might be sideways to down for next 2 years atleast until S&P bull ends... but hey what do I know?

Coincides with noobs calling for $15k by next year... because we all know noobs lose money.. it will rise when they give up!

[chairforce1]

What is unique now is that ask walls do not disappear. That ought to have peaked your interest by now..

The asks weren't pulled before we blew through $300 last year. You can't rationalize the market.

[njcarlos]

Reality is a sufficient amount of people have been burned to a serious degree by the last run up and it will take months if not a full year of relatively* stable sideways movement or slow & steady growth before confidence is restored. Someone is desperately attempting to coerce or accelerate that by trying to prop up the price. They don't have the money to do it, as much as they might think they do. The fact that they resort to these walls is actually pretty pathetic.

[MoreFun]

Mmmm

Simply no buy pressure  

Nope, not even with that big bid wall

Walls are contrarian indicators

Damn, that's why i lost all my money trading.

But seriously, i understand what you mean but the noob trader would usually get confident with such a wall and buy and vice versa. Even if it's a trap, nobody is buying.

Seriously.. walls are only designed for sending a signal that you ought to buy (or sell through the illusion of resistance or support). Guess what, markets are always trying to gain the upper hand. If you look at cheap tricks like this you are gullible. How many times have we not seen (this year) bid walls vanish when dumping is engaged? What is unique now is that ask walls do not disappear. That ought to have peaked your interest by now..

Bear walls were doing great job in the latest bear downhill (since < $550).

[chairforce1]

events and the price still hasn't budged?  

The value of Bitcoin grows as infrastructure grows.

[JayJuanGee]

It is simple. Price next year will reach between $4,000 - $15,000

You would be stupid not to buy right now.

We might be sideways to down for next 2 years atleast until S&P bull ends... but hey what do I know?

Coincides with noobs calling for $15k by next year... because we all know noobs lose money.. it will rise when they give up!

HORRY Sheet!!!   We are gonna have 2 more years of a bullish stock market?  Wow?  You are suggesting until the 2016 presidential elections?   What about the 2014 elections?  Sometimes economies are propped up for elections.. but you believe that they can prop the economy for two more years?

[ShroomsKit]

Mmmm

Simply no buy pressure  

Nope, not even with that big bid wall

Walls are contrarian indicators

Damn, that's why i lost all my money trading.

But seriously, i understand what you mean but the noob trader would usually get confident with such a wall and buy and vice versa. Even if it's a trap, nobody is buying.

Seriously.. walls are only designed for sending a signal that you ought to buy (or sell through the illusion of resistance or support). Guess what, markets are always trying to gain the upper hand. If you look at cheap tricks like this you are gullible. How many times have we not seen (this year) bid walls vanish when dumping is engaged? What is unique now is that ask walls do not disappear. That ought to have peaked your interest by now..

Yes i'm fully aware of that. I'm not talking about me.
I'm talking about new buyers. Normally they would buy when such a wall appears.

[sidhujag]

It is simple. Price next year will reach between $4,000 - $15,000

You would be stupid not to buy right now.

We might be sideways to down for next 2 years atleast until S&P bull ends... but hey what do I know?

Coincides with noobs calling for $15k by next year... because we all know noobs lose money.. it will rise when they give up!

HORRY Sheet!!!   We are gonna have 2 more years of a bullish stock market?  Wow?  You are suggesting until the 2016 presidential elections?   What about the 2014 elections?  Sometimes economies are propped up for elections.. but you believe that they can prop the economy for two more years?

Doesn't seem like a top fo rme.. every dip is being bought... thats a sign we are not over... usually tops are euphoric. Dont really care for elections... its just what the charts and phsycology say.

[njcarlos]

Every time a trade at $425 executes, the wall adds another 1-2k. Clearly automated, and stupid. Maybe they're afraid that the depth without their wall is pretty meager.

[Teppino]

looks to me the hammering stopped the same day of alibaba ipo, far less sell pressure so far

[esse83]

What is unique now is that ask walls do not disappear. That ought to have peaked your interest by now..

The asks didn't disappear when before we blew through $300 last year. You can't rationalize the market.

You can't compare this market to the market when Gox with all its nonsense were around. Why do you think bounces are weak or pumps just fade out and decline to lower levels? It's because this market is closer to reality than it was with pumpbots at gox (fake liquidity I might add). We are still in correction from this abuse from Mark.

[JayJuanGee]

It is simple. Price next year will reach between $4,000 - $15,000

You would be stupid not to buy right now.

We might be sideways to down for next 2 years atleast until S&P bull ends... but hey what do I know?

Coincides with noobs calling for $15k by next year... because we all know noobs lose money.. it will rise when they give up!

HORRY Sheet!!!   We are gonna have 2 more years of a bullish stock market?  Wow?  You are suggesting until the 2016 presidential elections?   What about the 2014 elections?  Sometimes economies are propped up for elections.. but you believe that they can prop the economy for two more years?

Doesn't seem like a top fo rme.. every dip is being bought... thats a sign we are not over... usually tops are euphoric. Dont really care for elections... its just what the charts and phsycology say.

Yeah... o.k. but just because there is incredible quantities of buying on the dips.. that is ongoing, that does NOT indicate that such buying inclinations are going to continue 2 months from now. 

Maybe we could all give a ratt's ass about elections; however, the truth of the matter is that they frequently seem to have consequences.. including propping type manipulations before the elections.

[chairforce1]

You can't compare this market to the market when Gox with all its nonsense were around. Why do you think bounces are weak or pumps just fade out and decline to lower levels? It's because this market is closer to reality than it was with pumpbots at gox (fake liquidity I might add). We are still in correction from this abuse from Mark.

I agree that we are still trying to find our feet from the Agoxalypse but I'm pointing out that there are too many unknowns to be able to predict what the market will do, therefore walls are null. The fake liquidity is a perfect example. Nobody could have ever known that would happen. All the walls in the world weren't going to stop that. I would just pretend walls don't exist. They do nothing to affect the usefulness of Bitcoin. Like I had said before, Bitcoin will grow with infrastructure. The rest is just day trading.

[adamstgBit]

It is simple. Price next year will reach between $4,000 - $15,000

You would be stupid not to buy right now.

We might be sideways to down for next 2 years atleast until S&P bull ends... but hey what do I know?

Coincides with noobs calling for $15k by next year... because we all know noobs lose money.. it will rise when they give up!

better to be 2 years early than 3-5 days to late.