RALLY!

[Spekulatius]

LECK MICH AM ARSCH!!! Did u see what just happened to the big f****ing sell-walls on mtgoxlive? Nearly vanished till 7.00$!!!
RRAALLLLYY!!!

scource: bitcoinity.org

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[Technomage]

Time to resurrect this baby. We are on RALLY mode! It might turn out to be a mini-rally but it's refreshing to see some action after a few days of nothing.

[randomguy7]

yeah, BUY BUY BUY lol

[ineededausername]

It's moving really quickly too!  4c/s

[ArsenShnurkov]

It's moving really quickly too!  4c/s

Any news ?

[ineededausername]

We're at $5.4 and going up! Huge bidwalls are up... may be fake and may not.  I see one at about 5.35 of 6000 ish Bitcoins.
edit: fake bidwall

[Technomage]

There was a bidwall of 15000 coins at 5.3 just a few minutes ago. It was removed quickly. Most of the single massive walls are fake, multiple medium sized walls is usually more reliable. The current wall looks very fake to me but I guess we'll see.

I'm not super bullish yet but getting there. Adjusted my buy-orders a bit higher, this move deserves that much. The market is confirming what I've thought recently, that the downtrend is over. Not calling an uptrend yet but the bubble has certainly deflated at this point.

We will probably be on the "neutral" zone for a while now and slowly recover to a new uptrend, which could be a fast one or a slow one.

[johnj]

We're at $5.4 and going up! Huge bidwalls are up... may be fake and may not.  I see one at about 5.35 of 6000 ish Bitcoins.
edit: fake bidwall

It's the manipulator, come to save us all!

[NamelessOne]

We're at $5.4 and going up! Huge bidwalls are up... may be fake and may not.  I see one at about 5.35 of 6000 ish Bitcoins.
edit: fake bidwall

It's the manipulator, come to save us all!

YES! I love the manipulator! Save us! Keep up the good work!

[arsenische]

Most of the single massive walls are fake, multiple medium sized walls is usually more reliable.

I think those walls are made by bots, and they the bots can create big walls as easy as dozens of small ones. We see what they want us to see, so don't pay much attention to bids & asks

[wobber]

How he can save us? Isn't this bad for bitcoin?

[Hawkix]

The wall is down.

[wobber]

Wow! I don't realize what happens. Can please someone explain?

[arsenische]

Wow! I don't realize what happens. Can please someone explain?

just usual market volatility, which may move the price to 100$/btc or 0.01$/btc... equal chances

[Technomage]

I think those walls are made by bots, and they the bots can create big walls as easy as dozens of small ones. We see what they want us to see, so don't pay much attention to bids & asks

This is true, but it's always more likely that there are legit walls when there are more of them. But especially these type of situations where walls suddenly manifest near the current price, it's 99% bots.

What I'd be looking at is what happens to the walls at around $4, $4.7 etc. When those start moving, then a big rally is close. I'm expecting those walls to move a bit higher any day, because it's starting to look unlikely that the price will go below $4 in the current situation.

We'll see. Interesting to see when this mini-rally stops and where the price settles after that. Is $4.8 still the line or not?

[wobber]

Wow! I don't realize what happens. Can please someone explain?

just usual market volatility, which may move the price to 100$/btc or 0.01$/btc... equal chances

For 2 days volatility was less than 50c.

[arsenische]

Wow! I don't realize what happens. Can please someone explain?

just usual market volatility, which may move the price to 100$/btc or 0.01$/btc... equal chances

For 2 days volatility was less than 50c.

oh.. this tiny volatility or about ~10% for 2 days? great achievement

[piramida]

We'll see. Interesting to see when this mini-rally stops and where the price settles after that. Is $4.8 still the line or not?

I'd say we'll sit in the 5-6 for a while. Not looking like a huge breakout yet. But it's a forming tradition that Sunday is the BTC volatility day has been like that for several weeks. Some traders have nothing to do on a weekend?

[payb.tc]

We'll see. Interesting to see when this mini-rally stops and where the price settles after that. Is $4.8 still the line or not?

I'd say we'll sit in the 5-6 for a while. Not looking like a huge breakout yet. But it's a forming tradition that Sunday is the BTC volatility day has been like that for several weeks. Some traders have nothing to do on a weekend?

if they're coming from 'normal' fx trading then likely they're overjoyed that they can trade 7 days a week, instead of 5 days trading 2 days pacing back and forth around their house.

[NamelessOne]

BUY BUY BUY!