.

[Joerii]

If the avarage volume of the last 5 days would be double, what would that do to the reversal date ? Push it away and raise the price ?

[Tzupy]

I'll try to translate what Chodpaba said in whale terms:
There is one big $ whale who wants to accumulate coins in preparation for a future ( possibly not near ) price ( major ) rise.
Beside the big $ whale there are other whales who panic bought just after the big whale, driving the price up.

But the rest of the market is barely able to sustain this price level. Only a few other smaller whales buying about 2.5k and 5k the last 2 days
are those responsible for keeping the price at this level, when the 'right price' would have been about 138, not 143 as now.
If the big $ whale will make a new move, we know what follows. But if he does not? How bad will the price drop?

[powpow]

Seeing a lot of red today.  Curious if your indicators will change by this afternoon.

[Progressive]

What about this?

New verification requirements

Bitstamp’s verification procedures are in accordance with high standards already adopted in today's financial world and assure Bitstamp’s service providers as well as regulators. To be in line with financial standards, as of September 30th, 2013, bitcoin and bank transfers will only be available to verified customers.

https://www.bitstamp.net/article/bitstamp-new-verification-requirements/ wonder if also ripple will be included

[Joerii]

Pretty big drop in price the last hour. Does the target stand ?

[Joerii]

$174 Tuesday, September 17, 2013

Hahah that seems so random. The recent drop in price has allowed it to move up higher ?

[NamelessOne]

$174 Tuesday, September 17, 2013

Hahah that seems so random. The recent drop in price has allowed it to move up higher ?

Well this recent drop is pretty much a healthy correction and needed after such a striking climb over the last two months. So yeah it can very well just continue up afterwards.

[adamstgBit]

$174 Tuesday, September 17, 2013

Hahah that seems so random. The recent drop in price has allowed it to move up higher ?

these dumps are showing us that support is high.

i am also considering pushing my target UP, but obviously i'm in no rush...

[Joerii]

these dumps are showing us that support is high.

Could you explain ?

[notme]

these dumps are showing us that support is high.

Could you explain ?

Support holds the price up, resistance keeps it down.  10K sell volume in one hour with only a 4% drop indicates there are still people willing to buy significantly at these prices.  In contrast, on April 10th, right after the peak 7K sell volume dropped us 7.7% in an hour.

[Joerii]

So the price movement has "passed the test", and will soon resume to climb upwards ?

I though that if a support is broken the price will then rest on the support below that, until the next rally where that support tends to function as resisitance.

But I feel a little bit like a kindergarten teacher talking to a Doctor in physics.


EDIT you ninja posted me, notme. Thanks for the explanation.

[notme]

So the price movement has "passed the test", and will soon resume to climb upwards ?

I though that if a support is broken the price will then rest on the support below that, until the next rally where that support tends to function as resisitance.

But I feel a little bit like a kindergarten teacher talking to a Doctor in physics.


EDIT you ninja posted me, notme. Thanks for the explanation.

You are referring to specific price points.  These are usually called support/resistance levels.  Support/Resistance in general just describes impedance to movement either up (resistance) or down (support).

[MoreFun]

You saw support today? If yes I already saw it days ago in depth... There is no bid strength ATM.

[notme]

You saw support today? If yes I already saw it days ago in depth... There is no bid strength ATM.

Bid order depth does not correlate well with support.  The walls like to dance about when movement starts.

[MoreFun]

You saw support today? If yes I already saw it days ago in depth... There is no bid strength ATM.

Bid order depth does not correlate well with support.  The walls like to dance about when movement starts.

That is what I was talking about. If anyone saw support today he saw depth nothing more.

[notme]

You saw support today? If yes I already saw it days ago in depth... There is no bid strength ATM.

Bid order depth does not correlate well with support.  The walls like to dance about when movement starts.

That is what I was talking about. If anyone saw support today he saw depth nothing more.

Than why did it take 10k BTC to take us down a mere 4%?  10k BTC has hit the market much harder in the past.

[MoreFun]

chodpaba a quick question. Do you think that if there would be no price falling on stamp that even gox would not fell? Thx.

[Nemo1024]

Re Bitstamp verification: it's pretty easy. You need to submit two scanned documents - your ID and proof of residence (e.g. electric bill with your name and address visible) and you become verified user within an hour or so.

[Nemo1024]

In which case you could acquire a proof of residence document from your local registar or police department.
Where I live that would have taken one phone call to get the document mailed to you the next day.

[rampantparanoia]

Re Bitstamp verification: it's pretty easy. You need to submit two scanned documents - your ID and proof of residence (e.g. electric bill with your name and address visible) and you become verified user within an hour or so.

It's easy if you have a bill on your name. Many people don't have that.
I don't understand why ID isn't enough. Probably some strange law thing.

Based on the way most banks operate, a 2nd ID is needed for anything over $1000.
I'm not sure if its an actual law or what. But, it seems like these exchanges are following this practice for verification (assuming most customers would do business over $1000)