The price has bounced right back

[jojo69]

I'm holding short till I see what happens when we hit this impending downtrend



of course it could snap either way...who knows

[1713579888]

1713579888

[1713579888]

1713579888

[1713579888]

1713579888

[NamelessOne]

Yeah, two days ago was a big shock for everyone so it makes sense that it is still reflected in the orderbook.

[bittenbob]

I looked at the order book on MTGox and there are a number of 1k walls spaced evenly apart near $7. To me this is a sign of a bot/manipulator and that these walls are probably not real. Anything that looks computer generated like that usually is. By my count that only amounts for about 5k of the coins but the bot could have made a mix asks at different levels.

[bittenbob]

If you look at the 300BTC groups between 6.35 and and 6.36 (3 groups) these are classical fake walls. This would require 1000BTC to go from 6.35 to 6.36 but last time we jumped to 6.36 there was not even 100BTC volume required because the walls were taken down before the orders could be executed. They were there before the price approached them and disappeared as the price reached 6.35 only to reappear after it dropped.

Someone is trying to suppress the price.

[Edit] Make that 4 groupings. Someone is trying hard.

[notme]

If you look at the 300BTC groups between 6.35 and and 6.36 (3 groups) these are classical fake walls. This would require 1000BTC to go from 6.35 to 6.36 but last time we jumped to 6.36 there was not even 100BTC volume required because the walls were taken down before the orders could be executed. They were there before the price approached them and disappeared as the price reached 6.35 only to reappear after it dropped.

Someone is trying to suppress the price.

[Edit] Make that 4 groupings. Someone is trying hard.

"My money should clear tomorrow"... but will we wait?

[Dutch Merganser]

Someone is trying to suppress the price.

[Edit] Make that 4 groupings. Someone is trying hard.

Time to go get 'em tiger, you first 

[bittenbob]

Did anyone else see those walls move as the price approached? They are now up higher but still for the same amount at 300BTC. Not exactly sure what the strategy is there unless they are trying to buy coins without raising the price.

(Update)

Was looking at the timed out clark moody data. But the coins are still higher up now. The walls were moved as I predicted. It looks like a couple of them were bought up in that big spike before they had a chance to move them from the slightly higher point they were moved to.

[StewartJ]

I'm holding short till I see what happens when we hit this impending downtrend



of course it could snap either way...who knows

Taking a look-see at your downtrend, watching and waiting on the sidelines. 

[RogerR]

I don't trust those 50k walls at all... they are obviously the same ones that disappeared at 6.4 and 6.6 2-3 days ago when we were at 7.19 with practically nothing to go to 9. Without them, there wouldn't be any real support above 5.20/40.

You fools are being played again.

[bittenbob]

I don't trust those 50k walls at all... they are obviously the same ones that disappeared at 6.4 and 6.6 2-3 days ago when we were at 7.19 with practically nothing to go to 9. Without them, there wouldn't be any real support above 5.20/40.

You fools are being played again.

And many of the ask walls are also fake meaning the resistance isn't what it would appear either. What exactly is your point and what makes you so experienced from your 80 some odd posts to be calling us fools?

We have about 1000 coins to move the price $0.01 in either one direction right now which is interesting.

[arepo]

I don't trust those 50k walls at all... they are obviously the same ones that disappeared at 6.4 and 6.6 2-3 days ago when we were at 7.19 with practically nothing to go to 9. Without them, there wouldn't be any real support above 5.20/40.

You fools are being played again.

indicators are all bearish. i would heed this man's advice.

[bittenbob]

I don't trust those 50k walls at all... they are obviously the same ones that disappeared at 6.4 and 6.6 2-3 days ago when we were at 7.19 with practically nothing to go to 9. Without them, there wouldn't be any real support above 5.20/40.

You fools are being played again.

indicators are all bearish. i would heed this man's advice.

If the indicators are all bearish then I trust we will have a bull market. Same in the reverse order. This is the way it has been for some time here. If everyone is posting rally rally rally then a correction is in order. If everyone is screaming crash and abandon ship then we are due for a big rally. Its really as if someone is using reverse psychology to base their large trades (has worked so far apparently).

Either way no matter what happens I am in a good position and will not be hurt. I am not leveraged and have both buys and sells at either extremes of what the possible trading ranges could be.

[RogerR]

And many of the ask walls are also fake meaning the resistance isn't what it would appear either. What exactly is your point and what makes you so experienced from your 80 some odd posts to be calling us fools?

We have about 1000 coins to move the price $0.01 in either one direction right now which is interesting.

That's fairly inaccurate. You actually have to buy through most of these ask 'walls'. However, even if they were fake, they are substantially dwarfed in significance by what is going on with those several 10k BTCs worth of will-disappear-anytime-once-you-bought-enough-of-my-overpriced coins. You and your proud 600+ posts, which btw prove nothing of an argument other than that you got too much time on your hands and obviously no pretty gf to keep you from it, will see -  but I sure as hell don't make the same mistakes twice. My advice to anyone willing to listen would be to stay out of this blatantly manipulated market. I for one will keep up my shorts.

[ineededausername]

That's fairly inaccurate. You actually have to buy through most of these ask 'walls'. However, even if they were fake, they are substantially dwarfed in significance by what is going on with those several 10k BTCs worth of will-disappear-anytime-once-you-bought-enough-of-my-overpriced coins. You and your proud 600+ posts, which btw prove nothing of an argument other than that you got too much time on your hands and obviously no pretty gf to keep you from it, will see -  but I sure as hell don't make the same mistakes twice. My advice to anyone willing to listen would be to stay out of this blatantly manipulated market. I for one will keep up my shorts.

mmhm. you advise other people to stay out, but you short... manipulation goes both ways.

[bittenbob]

And many of the ask walls are also fake meaning the resistance isn't what it would appear either. What exactly is your point and what makes you so experienced from your 80 some odd posts to be calling us fools?

We have about 1000 coins to move the price $0.01 in either one direction right now which is interesting.

That's fairly inaccurate. You actually have to buy through most of these ask 'walls'. However, even if they were fake, they are substantially dwarfed in significance by what is going on with those several 10k BTCs worth of will-disappear-anytime-once-you-bought-enough-of-my-overpriced coins. You and your proud 600+ posts, which btw prove nothing of an argument other than that you got too much time on your hands and obviously no pretty gf to keep you from it, will see -  but I sure as hell don't make the same mistakes twice. My advice to anyone willing to listen would be to stay out of this blatantly manipulated market. I for one will keep up my shorts.

Look how cool you are trying to insult me. The number of posts means I have probably been in the community longer and have more experience than you in this market. You are clearly trading with leverage since you are shorting which means you could be liquidated and end up with zero (look at thread of the year and the impact I had on that). In fact with your smug attitude and condescending tone I now wish this upon you. I do not trade with leverage so I will never have 0.

As for having to buy through them some are real but many are pulled as they realize they are going to sell at a lower price than they can. They can't always be pulled out in time when a whole bunch of shorts get zhoutonged. I have seen large ask walls and bid walls taken down so the depth charts have to be viewed some degree of skepticism on both sides. I even provided examples of moving walls you could have watched but apparently you chose to ignore that fact.

That being said I expect a test at 5.50 again in the near future but think we will be going up as well. S03052 even said he believes we are entering Wave III which means that the price rise can resume. He charges for his analysis but from what I have heard from those who pay it is usually very accurate.

[jojo69]

I have this vision of a war room with a huge wall sized monitor, several operator terminals buzz with activity.

On the big monitor is a bid ask table like the Clark Moody interface, the in house positions are in grey text and all other positions are yellow.

most of the text is grey.

At home I decide to place an ask near the current price for 30.7 BTC, suddenly a new yellow entry appears on the big display...30.7, the operators pay it no heed, they are out for bigger game.

[ineededausername]

I have this vision of a war room with a huge wall sized monitor, several operator terminals buzz with activity.

On the big monitor is a bid ask table like the Clark Moody interface, the in house positions are in grey text and all other positions are yellow.

most of the text is grey.

At home I decide to place an ask near the current price for 30.7 BTC, suddenly a new yellow entry appears on the big display...30.7, the operators pay it no heed, they are out for bigger game.

haha... i can imagine it too.

The Manipulator himself is probably imagining it, while he gloats over his profits sitting in his mom's basement.  He thinks, "One day, my manipulation will make me so rich that I will cash out and build that dream home with the war room in it."

[legitnick]

[bittenbob]

Still a bit touchy about getting zhoutonged the other day?

[proudhon]

Over $1.6 million in bids now.  New high.  For anyone interested, before those giant zhoutongings the bids had reached an all time high of $1.3 million.  Immediately after the bids were taken down to around $650,000.  The bids have filled back in plus over $300,000 more has decided to make itself known.