BITSTAMP eXchange wall Observer. second biggest and best exchange

[Spekulatius]

Zoomed in close, most of todays volume is actually sell volume (there were 1000 BTC sold into that BID wall @ 21:23 2013-10-08 UTC). Hence price on Stamp keeps creeping up. When will the correction occur?

[Miz4r]

Zoomed in close, most of todays volume is actually sell volume (there were 1000 BTC sold into that BID wall @ 21:23 2013-10-08 UTC). Hence price on Stamp keeps creeping up. When will the correction occur?

Well the bids are piling up until they become juicy enough for people who are looking to sell a decent amount of coins with minimal slippage. Not sure why you're expecting a correction, the buyers are in control on Bitstamp and once the sellers who probably bought at 85-100 earlier are done selling we could see a nice rally instead.

[adamstgBit]

Zoomed in close, most of todays volume is actually sell volume (there were 1000 BTC sold into that BID wall @ 21:23 2013-10-08 UTC). Hence price on Stamp keeps creeping up. When will the correction occur?

people are selling bitcoin, price goes up


I think people are accumulating as much as they can for as cheap as they can,

everytime they get some dummy to sell they push prices slightly higher to entice more dummies to sell


are you selling?

[derpinheimer]

Zoomed in close, most of todays volume is actually sell volume (there were 1000 BTC sold into that BID wall @ 21:23 2013-10-08 UTC). Hence price on Stamp keeps creeping up. When will the correction occur?

people are selling bitcoin, price goes up


I think people are accumulating as much as they can for as cheap as they can,

everytime they get some dummy to sell they push prices slightly higher to entice more dummies to sell


are you selling?

Thats usually how it works immediately following a large market order. I dont see this working just out of the blue.

[damnek]

Bitcoin is being offered in large blocks at bitstamp but it keeps being bought..

[MoreFun]

Bitcoin is being offered in large blocks at bitstamp but it keeps being bought..

Bitstamp will surely visit $105-$110 soon if we do not break $130 in this run up.

[derpinheimer]

Bitcoin is being offered in large blocks at bitstamp but it keeps being bought..

Yes, this has been happening for like 3 days. Very, very odd.

Ask wall 250-1000 that slowly moves down in price, and eventually gets eaten.

Gox news incoming?

[MoreFun]

If I remember correctly the same was happening one evening before SR shutdown.

[damnek]

If I remember correctly the same was happening one evening before SR shutdown.

Correct.

[derpinheimer]

lol, just switched to trading.i286 bitstamp and saw the ask graph take a huge jump

New 1k ask on $127

[adamstgBit]

lol, just switched to trading.i286 bitstamp and saw the ask graph take a huge jump

New 1k ask on $127

there has been some big walls ~500BTC placed at the front line, and then eaten!

I saw it happen once today, it literally took seconds....

i'm on the phone with my dad, hes looking to sell and price is 125.5, i tell him ask for 127, seconds later a big wall pop-up at 125.5, i'm like fuck it hit the market sell.... seconds later the wall is eaten and price moves up to 127.5  



and yes, asks are definitely piling up, despite the large market buys.

[adamstgBit]

if i remember correctly, both big ask wall at the front were not their a few hours ago.

[el_rlee]

Market depth on the bid side is still a sad topic

[adamstgBit]

Market depth on the bid side is still a sad topic

it was looking good this morning but now these two big walls again....

but don't be to worried the bid side has been obviously down played for months now. their is way more depth on the bid side than is actually shown.

[Faraday]

their is way more depth on the bid side than is actually shown.

how does that work?

[RyNinDaCleM]

their is way more depth on the bid side than is actually shown.

how does that work?

Fiat on the sidelines not currently in an order...

But there are also many more BTC available than the ask side shows. There are a lot of people who will market sell when it gets to their price rather than fighting for the top

[derpinheimer]

Market depth on the bid side is still a sad topic

it was looking good this morning but now these two big walls again....

but don't be to worried the bid side has been obviously down played for months now. their is way more depth on the bid side than is actually shown.

There was 6k on 120 earlier, now only 4k.

Bid side is actually worsening despite the healthier bid sum.

Another 1k ask on 127, btw.

[adamstgBit]

These dumps and asks walls have been happening the entire past 2 months. Obviously a whale or a few whales have decided to capitulate around 127. If you look at bitcoin's history, it takes tons of volume to break past these major resistance levels and go into a rally. If we only do low volume, there will just be endless walls, and tiny fake breakouts followed by brutal market sells and new walls.

China broke, killed, destroyed this resistance.

[derpinheimer]

These dumps and asks walls have been happening the entire past 2 months. Obviously a whale or a few whales have decided to capitulate around 127. If you look at bitcoin's history, it takes tons of volume to break past these major resistance levels and go into a rally. If we only do low volume, there will just be endless walls, and tiny fake breakouts followed by brutal market sells and new walls.

China broke, killed, destroyed this resistance.

Doesnt matter, the Chinese markets will have different resistance levels due to different investors and lower volume.

[bobdude17]

These dumps and asks walls have been happening the entire past 2 months. Obviously a whale or a few whales have decided to capitulate around 127. If you look at bitcoin's history, it takes tons of volume to break past these major resistance levels and go into a rally. If we only do low volume, there will just be endless walls, and tiny fake breakouts followed by brutal market sells and new walls.

China broke, killed, destroyed this resistance.

I would give my left nut to be able to speak/read Chinese these days. I would be so interested to know all the details of what is going on over there.