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

[adamstgBit]

Look at all the little baby profit takers selling right before the $350 wall.

A 30K wall can't hold us down but a 2K one will? I better sell because we will never cross that! Lol

I dont get why people are comparing the 30k wall at $300 to the whole orderbook or smaller walls at higher prices.

The reason the $300 wall fell is because after dropping so much, there were tons of buyers waiting for a chance to buy in. They got it.

Now $350 is too high for those who didnt want in at $300, and the demand is a lot lower (Only applies to Bitstamp)

Has this 30k wall appeared at $600 while the price was fairly stable, it wouldnt have been bought. Its only because we are in a downtrend that it fell.

Wrong.  That was whale shorts (shorting since 600) that had help in securing a fixed cover position, without affecting the price and causing a rally.  It was completely engineered.  It was probably their own btc sell wall.

You are delusional. It was a real sell. Get out of lala land.

A big whale can sell to themselves if they are the only one(s) on the exchange.  Show me the Average Joe buyers.

were is JayJayWallsOfText when you need him.

oh thats right BUYING!

[derpinheimer]

Look at all the little baby profit takers selling right before the $350 wall.

A 30K wall can't hold us down but a 2K one will? I better sell because we will never cross that! Lol

I dont get why people are comparing the 30k wall at $300 to the whole orderbook or smaller walls at higher prices.

The reason the $300 wall fell is because after dropping so much, there were tons of buyers waiting for a chance to buy in. They got it.

Now $350 is too high for those who didnt want in at $300, and the demand is a lot lower (Only applies to Bitstamp)

Has this 30k wall appeared at $600 while the price was fairly stable, it wouldnt have been bought. Its only because we are in a downtrend that it fell.

Wrong.  That was whale shorts (shorting since 600) that had help in securing a fixed cover position, without affecting the price and causing a rally.  It was completely engineered.  It was probably their own btc sell wall.

You are delusional. It was a real sell. Get out of lala land.

A big whale can sell to themselves if they are the only one(s) on the exchange.  Show me the Average Joe buyers.

What? The wall was eaten by hundreds of smaller buys... no single "whale" ate a large enough chunk of it to seem odd. Biggest buy was like 2.7k.
Also. that fee would be enormous.
Plus it coincides perfectly with the transfer of 40k BTC yesterday. 40k transferred 10-05-14, 40k sold on bitstamp a bit later.

I heard the last 11.5K was eaten in one gulp.  Did I hear wrong?

Yep, its because people dont understand how bitcoinity displays purchases.

If 100 people buy 1btc separately, at the same time, bitcoinwisdom would show 100 1btc trades go by. Bitcoinity would show one 100btc trade.

Bitcoinity will "reset" once a trade goes by at a different price. So, imagine you have a 5k wall at 299.99 and a 5k wall at 300.00... you could have up to 10k of volume displayed trading at 300.00 on bitcoinity, trading "seconds ago" at $300. (because 299.99 is rounded and does not reset the "counter"), and each additional trade in that range continues to update the timer to "a few seconds ago", even if 10,000 of it was bought an hour ago, and someone bought 1btc then. it would show 10,001btc "a few seconds ago"

So, the last 11000 btc were eaten without a single seller, or something of the sorts.  

Some guy has a spreadsheet showing every trade, so you can see:
https://docs.google.com/spreadsheets/d/1ZZaXtuRJ_Ppo1_R2UczZSIpyreGjxpUMDsimbPneGq4/pubhtml?gid=928136785&single=true

[fonzie]

Look at all the little baby profit takers selling right before the $350 wall.

A 30K wall can't hold us down but a 2K one will? I better sell because we will never cross that! Lol

I dont get why people are comparing the 30k wall at $300 to the whole orderbook or smaller walls at higher prices.

The reason the $300 wall fell is because after dropping so much, there were tons of buyers waiting for a chance to buy in. They got it.

Now $350 is too high for those who didnt want in at $300, and the demand is a lot lower (Only applies to Bitstamp)

Has this 30k wall appeared at $600 while the price was fairly stable, it wouldnt have been bought. Its only because we are in a downtrend that it fell.

Wrong.  That was whale shorts (shorting since 600) that had help in securing a fixed cover position, without affecting the price and causing a rally.  It was completely engineered.  It was probably their own btc sell wall.

You are delusional. It was a real sell. Get out of lala land.

A big whale can sell to themselves if they are the only one(s) on the exchange.  Show me the Average Joe buyers.

What? The wall was eaten by hundreds of smaller buys... no single "whale" ate a large enough chunk of it to seem odd. Biggest buy was like 2.7k.
Also. that fee would be enormous.
Plus it coincides perfectly with the transfer of 40k BTC yesterday. 40k transferred 10-05-14, 40k sold on bitstamp a bit later.

Why are you so fucking angry, i thought you are just holding. You insulted everyone as a full retard yesterday that bought @ 300$. Your absolute pessimism seems to be a bit exaggerated.

[derpinheimer]

I think the initial buyers were retards. If you are buying 1 btc, and there is a 25k wall, you should wait until its almost gone.

Also, I find the amount of people reciting ,"WALL WAS PULLED" "IT WAS FAKE" "ANOTHER 30K WALL INCOMING" "WALL GUY FELL ASLEEP AND GOT F'CKED" very irritating, since none of that is true.

[noobtrader]

Look at all the little baby profit takers selling right before the $350 wall.

A 30K wall can't hold us down but a 2K one will? I better sell because we will never cross that! Lol

baby profit takers?

that 2 k wall is pure profit.

btw, if mr 30 k wall is out of ammo, he is more stupid than I thought.

but my gut is telling me that he is awaiting train pics.

And more people who still havent grasped that it was an early adopter cashing out.

early adopter deserve the profit for taking all the risk all these years. but btw early adopter arent cashing out.  BTC is better than cash.  you can get ebola after handling cash. think about it

"Bitcoin user not afinfected" meme?

Ebola comes to US.....   Bitcoin user uninfected ?

[WeltMaster]

All we need now is for an "expert" with a fair size of BTC to test our current overbought situation to crash us to $~300.

What will follow quickly is a rebound and followed even quicker an overshoot to $400.

Maybe I'm delusional but this looks like the first real attempt to catch a bottom since April, either way any timescale longer than a year is looking super-mega-ulta bullish for bitcoin.

[noobtrader]

I think the initial buyers were retards. If you are buying 1 btc, and there is a 25k wall, you should wait until its almost gone.

Also, I find the amount of people reciting ,"WALL WAS PULLED" "IT WAS FAKE" "ANOTHER 30K WALL INCOMING" "WALL GUY FELL ASLEEP AND GOT F'CKED" very irritating, since none of that is true.

hmmm it sounds like you were angry....

 LOL

[fewcoins]

I think the initial buyers were retards. If you are buying 1 btc, and there is a 25k wall, you should wait until its almost gone.

Also, I find the amount of people reciting ,"WALL WAS PULLED" "IT WAS FAKE" "ANOTHER 30K WALL INCOMING" "WALL GUY FELL ASLEEP AND GOT F'CKED" very irritating, since none of that is true.

The wall was pulled... Watch early morning (China time) the wall will reappear! Nothing new!!!

[pietje]

I think the initial buyers were retards. If you are buying 1 btc, and there is a 25k wall, you should wait until its almost gone.

If everyones does that, how does a wall ever gets eaten...

[NotLambchop]

Look at all the little baby profit takers selling right before the $350 wall.

A 30K wall can't hold us down but a 2K one will? I better sell because we will never cross that! Lol

baby profit takers?

that 2 k wall is pure profit.

btw, if mr 30 k wall is out of ammo, he is more stupid than I thought.

but my gut is telling me that he is awaiting train pics.

And more people who still havent grasped that it was an early adopter cashing out.

early adopter deserve the profit for taking all the risk all these years. but btw early adopter arent cashing out.  BTC is better than cash.  you can get ebola after handling cash. think about it

"Bitcoin user not afinfected" meme?

Ebola comes to US.....   Bitcoin user uninfected ?

[derpinheimer]

I think the initial buyers were retards. If you are buying 1 btc, and there is a 25k wall, you should wait until its almost gone.

If everyones does that, how does a wall ever gets eaten...

From big players, who can appreciate the slippage free buys.

[BitCoinNutJob]

I think the initial buyers were retards. If you are buying 1 btc, and there is a 25k wall, you should wait until its almost gone.

Also, I find the amount of people reciting ,"WALL WAS PULLED" "IT WAS FAKE" "ANOTHER 30K WALL INCOMING" "WALL GUY FELL ASLEEP AND GOT F'CKED" very irritating, since none of that is true.

The wall can be pulled at anytime and if its shooting up after like it clearly was it doesnt make much difference when you buy.

[fonzie]

@ tarmi -
longs closed 342
shorts opened @339

 

Waiting for 320-325$
Maybe 315$




Fuck this, i really wanted to sleep now...

[adamstgBit]

its going to be another extremely high volume day.

[psjw4450]

Are we looking at a dead cat bounce here? Or are shorts trying to cover. 

[adamstgBit]

Are we looking at a dead cat bounce here?

unlikely...

[NotLambchop]

...
Fuck this, i really wanted to sleep now...

How many hours sleep since Fri?

[psjw4450]

I was close to calling the bottom at around the 290 range. 

[tarmi]

@ tarmi -
longs closed 342
shorts opened @339

 

Waiting for 320-325$
Maybe 315$

longs closed 340

did not open shorts, but I did open my laptop cause I spilled some coffee on keyboard while celebrating and dancing yesterday. lol

btw, I dont know if it is smart to post our positions here.

:*

[adamstgBit]

@ tarmi -
longs closed 342
shorts opened @339

 

Waiting for 320-325$
Maybe 315$

longs closed 340

did not open shorts, but I did open my laptop, cause I spilled some coffee on keyboard.

btw, I dont know if it is smart to post our positions here.

:*

honey badger don't care man.