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

[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?

[ChartBuddy]

Explanation

[Davyd05]

much dumping on bitfinex.  

cmon bulls, we need more fuel for desperation.

someone just closing their longs

[edwardspitz]

much dumping on bitfinex.  

That and a hidden ask wall at $348. Someone has zero faith in this going any further or just enjoy giving Finexers cheap coins. I picked up a few, and sold most of it again. Thank you fairy whale dumper.

[tarmi]

much dumping on bitfinex.  

cmon bulls, we need more fuel for desperation.

someone just closing their longs

it "just" happens that we have another 20 millions of longs.

[ibrahim11]

when is $1000 coming again?     

[Thomas-s]

when is $1000 coming again?     

Soon™

[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.

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.

What makes more sense: some dude with 30k bitcoin decides to dump them all, and this insane buying pressure pops up in the middle of the night for a US exchange, or some dude with 30k bitcoin decides to make a move to raise the price so he can sell them all higher, then use that money to have ammo to buy back?

I think this guy is a stone-cold bull and wants the price to go up, and he's powerful enough to have an effect by himself, so he is probably hoping for the same thing you are: money is waiting nervously on the sidelines and he wants to signal it in.

It's a very low risk high reward play. At worst you lose some money of the probable millions you already made selling at 800+, on average you get a reasonably higher price for your 30k bitcoins (and have more ammo to fight again at 300, or 250, 200, whatever he decides is the right time), and at best you trigger a whole new wave of buying and get a WAY higher price for your 30k bitcoin, and at that point hold onto them and ride it up for a while.

[inca]

You could be right octaft.

Anyway pleasantly surprising to see us drift higher this weekend.

[Wandererfromthenorth]

Possible triple top and we touched the downtrend trend line (since the august drop), either we break it and it becomes pretty bullish, or we get a late nasty week end dump.