btc237ftw (OP)
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July 25, 2013, 01:27:39 PM |
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Hello everyone,
Here's what I noticed: in the last 48 hours, the buying pressure rose higher and higher, the "above 80" was at around 30k for a week or so and now it's almost 50k where most of the added pressure is at the top, (over 90s), therefore I believe the price is going to go up in the very short run at least.
I also think this is a flipped trend and not just a short run-up, but to back this statement up I need to bring a lot more data and therefore, for now - just take it as one man's opinion.
cheers,
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semaforo
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July 25, 2013, 01:35:02 PM |
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Hmm, maybe possible panic buying as all of the newcomers who have been watching the market and waiting for a good moment to buy in think "Uh oh, what if the price doesn't go back down... ever?!?! BUY BUY BUY!!"
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jbcv
Newbie
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Activity: 22
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July 25, 2013, 01:40:48 PM |
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Hmm, maybe possible panic buying as all of the newcomers who have been watching the market and waiting for a good moment to buy in think "Uh oh, what if the price doesn't go back down... ever?!?! BUY BUY BUY!!"
More recent newcomers wouldnt make a significant impact, they wouldn't invest much money altogether. Around/ right after the time of $266 would have been when we would have to consider the irrational newcomer impact
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btc237ftw (OP)
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July 25, 2013, 01:45:38 PM |
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Hmm, maybe possible panic buying as all of the newcomers who have been watching the market and waiting for a good moment to buy in think "Uh oh, what if the price doesn't go back down... ever?!?! BUY BUY BUY!!" Well, this might be part of the case, but in any case we are talking about whales here so it doesn't fit the psychological profile entirely. Yet, can't exclude that notion - just one more note: say you are right, it still means the price will go up if many people believe the price is too cheap at the moment and are afraid we are at some sort of a bottom... So while the motivation for buying effect mainly longer runs and trend aspects and considerations, it has a lot less effect for short term… I.E mass buying (for no matter what reason) = mass buying and the result is... price goes up.
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phorensic
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July 25, 2013, 02:24:12 PM |
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There is actually a chart for this that I like to check frequently on Blockchained.com
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gizmoh
Legendary
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Activity: 1428
Merit: 1000
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July 25, 2013, 02:27:24 PM |
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I would have agreed on a trend reversal, if not for the continuing withdrawal hiatus that is impeding on the natural course of the market.
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Tzupy
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July 25, 2013, 02:48:04 PM |
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According to the chart at blockchained, we should already be at 98-99, but we are not there yet. Well, maybe in the next hours...
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Sometimes, if it looks too bullish, it's actually bearish
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xavier
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July 25, 2013, 07:12:51 PM |
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I agree, buying pressure is building up.
I don't see anything changing much over the next few weeks, but possible into late August/September/October, there is a high probability we will see the price rise back past $100. I would guesstimate the probability of it rising right now is greater than it falling, due to current favorable sentiment towards bitcoin.
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gog1
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July 25, 2013, 07:16:56 PM |
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While it does seem prices are picking up, but with so many complaints about not getting money out of gox, not quite sure what to make of this. I think we should also keep track of bitstamp as it's volume is getting a lot closer to gox and keep an eye out on the spread between the 2. Part of the demand is probably just ppl trying to move money out of gox by bidding up BTC.
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XXthetimeisnowXX
Sr. Member
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a wolf in sheeps clothing. suckerfish
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July 28, 2013, 05:15:25 PM |
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past 100 in ten minutes damn look at all those big buys that just went threw.
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vokain
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July 28, 2013, 05:17:59 PM |
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past 100 in ten minutes damn look at all those big buys that just went threw. witnessed
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Tzupy
Legendary
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July 28, 2013, 06:16:28 PM |
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After the whale buy I was expecting another 2 days of boring activity, but it seems someone else has continued the momentum. Following the previous 2 whale buys we had first a decline by 3 $, and the second a stable period. But now, the divergence between the bid sum and ask sum has grown a lot, anyone care to comment on this?
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Sometimes, if it looks too bullish, it's actually bearish
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humanitee
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July 28, 2013, 06:26:30 PM |
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After the whale buy I was expecting another 2 days of boring activity, but it seems someone else has continued the momentum. Following the previous 2 whale buys we had first a decline by 3 $, and the second a stable period. But now, the divergence between the bid sum and ask sum has grown a lot, anyone care to comment on this?
Comment.
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XXthetimeisnowXX
Sr. Member
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a wolf in sheeps clothing. suckerfish
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July 28, 2013, 06:36:21 PM |
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past 100 in ten minutes damn look at all those big buys that just went threw. nope spoke to soon. jinxed it.
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XXthetimeisnowXX
Sr. Member
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Activity: 252
Merit: 250
a wolf in sheeps clothing. suckerfish
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July 28, 2013, 06:38:56 PM |
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past 100 in ten minutes damn look at all those big buys that just went threw. nope spoke to soon. jinxed it. still that 100 buy wall was huge two days ago, like 2.4m not that that all got bought up some did move but now its quite small. about 280k will do the trick. any whales want to go halvsys, like two of you whales, no me haha if only..... if only usually Sunday night late we see a big push upwards, did it come early or is there going to be another big push up. if there was i predict just under 105 with the current buy walls. if we push past 100 people will jump on and we could see a decent overnight gain, also a few sell orders would be taken off so I see this happening. if we see no bug sunday night push then ya we will be stuck at 98 for some time. JMO what do you think?
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Tzupy
Legendary
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July 28, 2013, 06:53:44 PM |
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A 5,000 BTC buy (little whale) would reach up to 101. It is 21:54 my time as I write this and in 6 minutes we may breach the 100 $ (psychological) wall. Or not, depends just on the whales...
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Sometimes, if it looks too bullish, it's actually bearish
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notme
Legendary
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July 28, 2013, 09:19:13 PM |
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After the whale buy I was expecting another 2 days of boring activity, but it seems someone else has continued the momentum. Following the previous 2 whale buys we had first a decline by 3 $, and the second a stable period. But now, the divergence between the bid sum and ask sum has grown a lot, anyone care to comment on this?
I would recommend you do more studying and paper trading before you put your money on the line. You need better reasoning than "whales this" and "order book that" before you put your money on the line. (In other words, don't make the same mistakes I did ).
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superduh
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July 28, 2013, 09:26:47 PM |
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where the bears at? they like to moan and groan.
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ok
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Tzupy
Legendary
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July 28, 2013, 09:43:40 PM |
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After the whale buy I was expecting another 2 days of boring activity, but it seems someone else has continued the momentum. Following the previous 2 whale buys we had first a decline by 3 $, and the second a stable period. But now, the divergence between the bid sum and ask sum has grown a lot, anyone care to comment on this?
I would recommend you do more studying and paper trading before you put your money on the line. You need better reasoning than "whales this" and "order book that" before you put your money on the line. (In other words, don't make the same mistakes I did ). Point taken. Without these whale buys we would be down to 80s or lower by now, so the general market theory may not be so accurate for MtGox right now. I have a theory on what the buying whale is trying to achieve: he's depleting the BTC stash on MtGox badly, so the price will rise to 120, and then he'll dump. That will be the mother of all dumps, the price will drop to 50s. Repeat.
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Sometimes, if it looks too bullish, it's actually bearish
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abrkn
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July 28, 2013, 09:48:26 PM Last edit: March 15, 2015, 03:19:38 AM by abrkn |
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keybase.io/abrkn/key.asc
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