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

[blatchcorn]

Studying the charts this morning:

[ShroomsKit]

I didn't read the last 8 hours of posts.
He had a 30k wall before. Now the last thing i saw was a 15k wall being eaten. Did anything happen to that other 15k? Is it gone as well?

[Elwar]

There's less than 30k bitcoins to $3000 on stamp.

[ShroomsKit]

There's less than 30k bitcoins to $3000 on stamp.

As always more will be added as we go up.

[micalith]

This here makes sense to me:

more interesting is the coinbase lack of coins - this possibly tells us the miners who they buy from are now close to or below cost of production and are no longer selling OTC, forcing coinbase back to exchange and needing to move fiat back to bitstamp or others. This is more indicative of a floor than any large wall on stamp.
Don't expect a stellar rise though - once the price rises enough the miners will be back to dump their coins.

So sideways-ish for the next 2 months or so

[mmitech]

There's less than 30k bitcoins to $3000 on stamp.

Are you serious ?     we never look at the ask side because always, and I mean always when the price go a bit up new asks shows up, simply because people are not comfortable leaving their coins on an exchange, they send them when they see a good opportunity to sell.

in the other side we look at bids because sending money to an exchange is not that fast.

[ChartBuddy]

Explanation

[crazy_rabbit]

This here makes sense to me:

more interesting is the coinbase lack of coins - this possibly tells us the miners who they buy from are now close to or below cost of production and are no longer selling OTC, forcing coinbase back to exchange and needing to move fiat back to bitstamp or others. This is more indicative of a floor than any large wall on stamp.
Don't expect a stellar rise though - once the price rises enough the miners will be back to dump their coins.

So sideways-ish for the next 2 months or so

More time for me to sell kidneys to buy more coins!

[Xiaoxiao]

Wall is gone.  Prepare for nasty drop this week.

[Davyd05]

This here makes sense to me:

more interesting is the coinbase lack of coins - this possibly tells us the miners who they buy from are now close to or below cost of production and are no longer selling OTC, forcing coinbase back to exchange and needing to move fiat back to bitstamp or others. This is more indicative of a floor than any large wall on stamp.
Don't expect a stellar rise though - once the price rises enough the miners will be back to dump their coins.

So sideways-ish for the next 2 months or so

3600 is nothing, it is just 12% percent of a wall that just got munched.  Thanks for being a cud bear tho

So much ignoring and Fonzie has been making more sense then the despair bears left

[Asrael999]

This here makes sense to me:

more interesting is the coinbase lack of coins - this possibly tells us the miners who they buy from are now close to or below cost of production and are no longer selling OTC, forcing coinbase back to exchange and needing to move fiat back to bitstamp or others. This is more indicative of a floor than any large wall on stamp.
Don't expect a stellar rise though - once the price rises enough the miners will be back to dump their coins.

So sideways-ish for the next 2 months or so

3600 is nothing, it is just 12% percent of a wall that just got munched.  Thanks for being a cud bear tho

So much ignoring and Fonzie has been making more sense then the despair bears left

I'm not a bear - HODLING with the rest.

[bitsword]

Wall is gone.  Prepare for nasty drop this week.

You mean today? 

[magicmexican]

When do you think btc-e will reclaim their spot from stamp?

[mooncake]

Now that the sell wall is gone, we are going down.

How ironic! 

[aclass]

What else do you expect. The market bought on hype and now it will correct itself

[Bagatell]

The market bought on hype and now it will correct itself

That wall was eaten by 100 and 1000 coin bites. Hardly your average market players.

[ShroomsKit]

What else do you expect. The market bought on hype and now it will correct itself

Just traders screwing it up. As always.

[aclass]

I mean everything after the wall was gone. The 30k wall might have been a trap as well but time will tell.
Too much hype ... wayy too much

The market bought on hype and now it will correct itself

That wall was eaten by 100 and 1000 coin bites. Hardly your average market players.

[gizmoh]

The market bought on hype and now it will correct itself

That wall was eaten by 100 and 1000 coin bites. Hardly your average market players.

1000's of new Bagholders that will panic cut loose if another early adopter divest.

[grappa_barricata]

What a weekend we have survived, eh? Crazy stuff