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

[podyx]

Explanation

This orderbook seems so cheesely prefabricated... dumpage incoming!

Looks like a tsunami to me, that usually mean we would go up

These new kind of walls they have been building lately seem to be electromagnetic. They always pull in the front line, never push it away.

When big walls and chunks of support are placed quite lower than current market price, it's a bearish signal not bullish.
It means that the market is betting on the price to go there and test those lows.

Well... We all know how the market moves.
It moves in such a way that will make as many investors as possible lose as much money as possible.

When there's alot of bids just right infront of the bitcoin price however and flattened after, then that is usually a bearish sign

[Wandererfromthenorth]

Explanation

This orderbook seems so cheesely prefabricated... dumpage incoming!

Looks like a tsunami to me, that usually mean we would go up

These new kind of walls they have been building lately seem to be electromagnetic. They always pull in the front line, never push it away.

When big walls and chunks of support are placed quite lower than current market price, it's a bearish signal not bullish.
It means that the market is betting on the price to go there and test those lows.

Well... We all know how the market moves.
It moves in such a way that will make as many investors as possible lose as much money as possible.

When there's alot of bids just right infront of the bitcoin price however, then that is usually a bearish sign

?

[JorgeStolfi]

I miss rpietila. he was funny too.

what happend to him? no more coins?

It seems that he is running some sort of role-playing game, using Monero as the currency.
https://bitcointalk.org/index.php?topic=819073.0

He does not seem to be interested in bitcoin any more.

[Tzupy]

I miss rpietila. he was funny too.

what happend to him? no more coins?

It seems that he is running some sort of role-playing game, using Monero as the currency.
https://bitcointalk.org/index.php?topic=819073.0

He does not seem to be interested in bitcoin any more.

Interesting... He wants to pimp Monero with his game, until BTC would be replaced by Monero.
The functionality of the game is similar to one of my projects, but rpietila as King, I don't think so...

[podyx]

Did Risto sell his BTC?

[N12]

I miss rpietila. he was funny too.

what happend to him? no more coins?

It seems that he is running some sort of role-playing game, using Monero as the currency.
https://bitcointalk.org/index.php?topic=819073.0

He does not seem to be interested in bitcoin reality any more.

FTFY

All the delusional fools who have doubted the bear market for many months are vanishing or turning bearish, one by one. It's a good time to be a Bitcoin investor again, as opposed to a Bitcoin trader.

Keep doubting. Keep doubting the 5th of October.

[MrPiggles]

i just sold 90% of this months btc income which means the price is going to the moon because fuck me, thats why

[Tzupy]

Did Risto sell his BTC?

I don't know if he did, but I remember a couple of months ago when price was around 550$ he posted an offer to sell off-exchange.
When I highlighted his bearish stance (why would he sell if bitcoin was supposed to reach 5k$ by the end of 2014?) the permabulls dismissed that.

[inca]

Lot of fear mongering on here today. Underwater shorts?

[ChartBuddy]

Explanation

[Tzupy]

...
Keep doubting. Keep doubting the 5th of October.

You still bullish, Blitz? I agree that it's possible 275$ to hold and form a double bottom, but I find this unlikely. We should know for sure in about a week.

[JeffDeChesare]

It's stuck at 330 seem to be its new home.  

[N12]

What's this tell you?

[Tzupy]

Usually in a descending channel with lowering volume, the drop accelerates after a major support is broken.

[tarmi]

What's this tell you?

that you turned bullish way too early.

[N12]

Usually in a descending channel with lowering volume, the drop accelerates after a major support is broken.

My interpretation is that the bearish momentum is waning. It's looking unhealthy.

What's this tell you?

that you turned bullish too early.

<300 was too early?

[tarmi]

you didnt close your longs?

now I know who will panic sell once we break that 300 support.

[N12]

I don't trade on margin. I like how antagonistic you are despite how neutral I have been in my communication. Can we infer that perhaps it is you who is stuck in a margin position?

BTW, If you look at the order book depth deltas, you will see a similar development. Decreasing global asks. On the other hand, bids seem to be regaining.

[Tzupy]

...
BTW, If you look at the order book depth deltas, you will see a similar development. Decreasing global asks. On the other hand, bids seem to be regaining.

I saw the bids recover nicely on Bistamp, but most are piling around the 300$ support, expecting testing it and a double bottom.

[tarmi]

you/he/we does not matter.

the fact is that there are a lot of people thinking that 275 was the bottom and that mr 30 k guy was some poor* dumb fucker who sold at the bottom. 

*