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

[ChartBuddy]

Explanation

[lyth0s]

Back to $350. How long will it last?

[mmortal03]

Back to $350. How long will it last?

Unless we somehow go above $360 soon, the steepened downward trend since $597 (the first week of August) seems like it will continue on down.

[Shak]

"we are going up  SELL ALL!"

not very long

[spooderman]

You guys realize people bought 30k BTC @300 on Bitstamp within 24h? To me, evidence is needed to tell that this support should fall, especially when we have had declining selling volume off 418 to 315, which represents a higher low that just shouldn't happen if the bearish momentum was there. This is in addition to the declining asks and rising bid sums.

I have been warning for over a month and harvested only insults and disbelief: that 5th of October was likely a mid term bottom (that much is clear now) and possibly even a long term bottom.

I thought it was obvious to us the bearwhale just ate his own coins. No?

No, the ask was up for many hours, there were many buys and Bitstamp was much lower than other exchanges providing an arbitrage opportunity. It's highly unlikely most of it was bought by the seller himself.

Yes arbitrage, but there are many reason why he might have indeed bought his own wall.

He could have put a large sell order in by mistake, and then feared the price falling due to fear of a market sell if he were to pull it. So he left it there and bought it in order to save himself from that. Thus accidentally (possibly) ending the bear market.

That might have happened. I'm not saying it did, but it doesn't seem unlikely to me.

[rebuilder]

You guys realize people bought 30k BTC @300 on Bitstamp within 24h? To me, evidence is needed to tell that this support should fall, especially when we have had declining selling volume off 418 to 315, which represents a higher low that just shouldn't happen if the bearish momentum was there. This is in addition to the declining asks and rising bid sums.

I have been warning for over a month and harvested only insults and disbelief: that 5th of October was likely a mid term bottom (that much is clear now) and possibly even a long term bottom.

I thought it was obvious to us the bearwhale just ate his own coins. No?

No, the ask was up for many hours, there were many buys and Bitstamp was much lower than other exchanges providing an arbitrage opportunity. It's highly unlikely most of it was bought by the seller himself.

Yes arbitrage, but there are many reason why he might have indeed bought his own wall.

He could have put a large sell order in by mistake, and then feared the price falling due to fear of a market sell if he were to pull it. So he left it there and bought it in order to save himself from that. Thus accidentally (possibly) ending the bear market.

That might have happened. I'm not saying it did, but it doesn't seem unlikely to me.

To accidentally put up a 30k askwall, you have to have 30k btc on an exchange. Who in their right mind would keep that kind of money on an exchange if they don't intend to do anything with it?

[ChartBuddy]

Explanation

[noobtrader]

Explanation

fair price

[spooderman]

You guys realize people bought 30k BTC @300 on Bitstamp within 24h? To me, evidence is needed to tell that this support should fall, especially when we have had declining selling volume off 418 to 315, which represents a higher low that just shouldn't happen if the bearish momentum was there. This is in addition to the declining asks and rising bid sums.

I have been warning for over a month and harvested only insults and disbelief: that 5th of October was likely a mid term bottom (that much is clear now) and possibly even a long term bottom.

I thought it was obvious to us the bearwhale just ate his own coins. No?

No, the ask was up for many hours, there were many buys and Bitstamp was much lower than other exchanges providing an arbitrage opportunity. It's highly unlikely most of it was bought by the seller himself.

Yes arbitrage, but there are many reason why he might have indeed bought his own wall.

He could have put a large sell order in by mistake, and then feared the price falling due to fear of a market sell if he were to pull it. So he left it there and bought it in order to save himself from that. Thus accidentally (possibly) ending the bear market.

That might have happened. I'm not saying it did, but it doesn't seem unlikely to me.

To accidentally put up a 30k askwall, you have to have 30k btc on an exchange. Who in their right mind would keep that kind of money on an exchange if they don't intend to do anything with it?

Bearwhale's intention might have been something other than to use it to make a giant ask wall? Maybe it was to dump 1k every time the price rose a little bit.

[spooderman]

Creeping up today it seems.

[octaft]

Bearwhale's intention might have been something other than to use it to make a giant ask wall? Maybe it was to dump 1k every time the price rose a little bit.

He buys it out himself to paint a high volume reversal on the charts and to simulate high demand <300, hoping new investors/exited investors will be tempted to come in based on that. If it works, bear markets over, if it doesn't, he puts a bunch of bids on the books with profits from previous sells (and from the actual buys of his 30k ask) to try to pump the price up as much as possible before selling off again and using those proceeds to try again at a lower price.

[Thomas-s]

Going to 400.

[spooderman]

manbearwhalewoman

[ChartBuddy]

Explanation

[LazyWhale]

Going to 400.

Not yet. It doesn't have much momentum.

[magicmexican]

A bus to 400 is leaving any time now.


(Probably)

[N12]

Bearwhale's intention might have been something other than to use it to make a giant ask wall? Maybe it was to dump 1k every time the price rose a little bit.

He buys it out himself to paint a high volume reversal on the charts and to simulate high demand <300, hoping new investors/exited investors will be tempted to come in based on that. If it works, bear markets over, if it doesn't, he puts a bunch of bids on the books with profits from previous sells (and from the actual buys of his 30k ask) to try to pump the price up as much as possible before selling off again and using those proceeds to try again at a lower price.

If you think that an ask that is up for 6h with a price differential to all other exchanges of 3-5% and the price continuously bumping against it during this whole timeframe and considering that the price had been in a relatively steep downtrend beforehand, ie lots of nervously waiting money on the sidelines, will not inevitably lead to many people buying into it, then obviously you've never traded this market in any significant capacity, because you do not appreciate the value of reduced slippage combined with a safe entry at least short term.

But keep doubting. It's fuel.

[spooderman]

Bearwhale's intention might have been something other than to use it to make a giant ask wall? Maybe it was to dump 1k every time the price rose a little bit.

He buys it out himself to paint a high volume reversal on the charts and to simulate high demand <300, hoping new investors/exited investors will be tempted to come in based on that. If it works, bear markets over, if it doesn't, he puts a bunch of bids on the books with profits from previous sells (and from the actual buys of his 30k ask) to try to pump the price up as much as possible before selling off again and using those proceeds to try again at a lower price.

If you think that an ask that is up for 6h with a price differential to all other exchanges of 3-5% and the price continuously bumping against it during this whole timeframe and considering that the price had been in a relatively steep downtrend beforehand, ie lots of nervously waiting money on the sidelines, will not inevitably lead to many people buying into it, then obviously you've never traded this market in any significant capacity, because you do not appreciate the value of reduced slippage combined with a safe entry at least short term.

But keep doubting. It's fuel.

It's not, I'm a hodlor, and occasional buyer. You are probably right, I'm not trying to troll but there are other possible motivations for the wall.

[tarmi]

much dumping on bitfinex.  

cmon bulls, we need more fuel for desperation.

[NotLambchop]

Good morning, gentlemen.  Rally?