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Author Topic: Wall Observer - MtGoxUSD wall movement tracker  (Read 1650457 times)
just1nmc
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April 15, 2013, 08:37:04 AM
 #23061

And look there is another relatively large ask wall 1673.7778@ 99.5. 

Yeah, still plenty of bitcoins looking to be cashed out it seems.  Smiley
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SlipperySlope
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April 15, 2013, 08:49:41 AM
 #23062

Is it just me, or does it seem like the powerful bids from 7 and 14 days ago are absent? Maybe later in the day they will show up.
ManBearPig
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April 15, 2013, 08:50:12 AM
 #23063



Um, something's not right with the fancy new Bitcoinity hover thingy.

I work that out at $1.94 per coin!

I tweet crypto nonsense: https://twitter.com/DunningKruger_
just1nmc
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April 15, 2013, 08:59:17 AM
 #23064



Um, something's not right with the fancy new Bitcoinity hover thingy.

I work that out at $1.94 per coin!

Haha even better

ManBearPig
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April 15, 2013, 09:08:06 AM
 #23065


Um, something's not right with the fancy new Bitcoinity hover thingy.

I work that out at $1.94 per coin!

Haha even better


Haha! Needs some tweaking methinks!

I tweet crypto nonsense: https://twitter.com/DunningKruger_
hobbes
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April 15, 2013, 09:41:09 AM
 #23066



Sun will follow the rain  Cheesy

solex
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April 15, 2013, 09:45:00 AM
 #23067

And look there is another relatively large ask wall 1673.7778@ 99.5. 

Yeah, still plenty of bitcoins looking to be cashed out it seems.  Smiley

1673 vaporized.  BTC headed up!

zarl
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April 15, 2013, 09:45:39 AM
 #23068

Hope its ok i ask many questions, im still learning

Why somebody put that big wall at 99.5 ?
If somebody want sell so many coins.
Wouldent it be better to let the new monday money flow in.
Hoping for a small monday rally getting the price up.
And then sell little by little for higher price ?

Is it some kind of strategy i miss.


Hermel
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April 15, 2013, 09:52:40 AM
 #23069

Why somebody put that big wall at 99.5 ?

Imagine you want to get rid of 1'000 coins at the best price possible. You know that when prices move up, the movments will likely stop at a wall. So your best bet is to set the limit to just below the highest wall you think won't be crossed. So in this case, the seller believes that Bitcoin won't raise above 100 USD anytime soon, but also thinks that it will touch 100 USD. In that case, you can be pretty sure to sell everything at 99.5 while still getting a good price.

As a corollary: if someone sells at 100.5 USD, the intention is likely a manipulation: here, the seller does not want to actually sell, but rather scare potential buyers by making the sell wall appear big -- that can pay off when doing large OTC transactions that take MtGox as reference.

Residing in Switzerland? Then write me to join the Bitcoin Association Switzerland - the local chapter of the Bitcoin Foundation.
zarl
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April 15, 2013, 09:56:12 AM
 #23070

Why somebody put that big wall at 99.5 ?

Imagine you want to get rid of 1'000 coins at the best price possible. You know that when prices move up, the movments will likely stop at a wall. So your best bet is to set the limit to just below the highest wall you think won't be crossed. So in this case, the seller believes that Bitcoin won't raise above 100 USD anytime soon, but also thinks that it will touch 100 USD. In that case, you can be pretty sure to sell everything at 99.5 while still getting a good price.

As a corollary: if someone sells at 100.5 USD, the intention is likely a manipulation: here, the seller does not want to actually sell, but rather scare potential buyers by making the sell wall appear big -- that can pay off when doing large OTC transactions that take MtGox as reference.

ok, thank you for explaning Smiley
hannesnaude
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April 15, 2013, 09:59:00 AM
 #23071

Hope its ok i ask many questions, im still learning

Why somebody put that big wall at 99.5 ?
If somebody want sell so many coins.
Wouldent it be better to let the new monday money flow in.
Hoping for a small monday rally getting the price up.
And then sell little by little for higher price ?

Is it some kind of strategy i miss.
It's fine to ask many questions. Just don't expect any authoritative answers. The only person who knows the logic behind the wall is the one who put it up. That person is unlikely to be present on this board, and even if  he/she was here, is unlikely to  tell  you the truth until after the trade is  complete. You will hear lots of theories here, but the fact of the matter is: nobody knows.  Sad
 

solex
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April 15, 2013, 10:01:32 AM
 #23072

Hope its ok i ask many questions, im still learning

Why somebody put that big wall at 99.5 ?
If somebody want sell so many coins.
Wouldent it be better to let the new monday money flow in.
Hoping for a small monday rally getting the price up.
And then sell little by little for higher price ?

Is it some kind of strategy i miss.


If everyone thought the market was going up it would race to the moon straightaway.

Markets are always a fine balance between buying and selling pressure. When there is a bit of news, or change in sentiment, or some big orders which tip the balance then it ticks up or down for a while. The owner of the big sell order thinks the downward trend is intact, and expects to re-buy at 80 or even 70.  They may be right, or they may lose out on a lot of profit.  The person who did the recent 6k buy thinks it is going up, and just may be right!

zarl
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April 15, 2013, 10:09:19 AM
 #23073

ok, yes i start understand something about these walls Smiley finally
Thanks very much for your answers
SlipperySlope
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April 15, 2013, 12:08:23 PM
 #23074

No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
JayCoin
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April 15, 2013, 12:13:49 PM
 #23075

No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...
It may take a few weeks for any new MtGox user to actually be able to get funds into MtGox to start buying. 

Hello There!
Geddi
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It's the muffins that must be stopped.


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April 15, 2013, 12:16:32 PM
 #23076

No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...

BitcoinAshley
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April 15, 2013, 12:17:10 PM
 #23077

Hope its ok i ask many questions, im still learning

Why somebody put that big wall at 99.5 ?
If somebody want sell so many coins.
Wouldent it be better to let the new monday money flow in.
Hoping for a small monday rally getting the price up.
And then sell little by little for higher price ?

Is it some kind of strategy i miss.


Some of our "bears" see a 2938 sell order and assume it's always yet another 'big player' cashing out for good, and also assume there is an unlimited supply of these, to drive the price down to like $2. Sometimes it is someone cashing out, but often someone's just trying to make 'mad gainz yo' from the dips.

What often happens is that someone might be selling, say, 1500 bitcoins at $99.5, hoping that the price will go back down to $95 so they can buy again and make a profit when it goes up. We can call this "shorting" or "day-trading." This person may believe that the price will hover back and forth between, say, $90 and $100, for another day before the new money gets comfortable enough to buy in. They wish to make some 'profitz' from other day traders who may not be so good at guessing the price movement as they are.

Some people day-trade on the ups and downs with a handful of coins, some people do it with thousands. And some of the 99.5 sell orders are just people with lots of money trying to cash out to buy a new house or whatever.

Oh yeah, and what Hermel said. That too Smiley
just1nmc
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April 15, 2013, 12:24:01 PM
 #23078

No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...

In fairness, gox only verifies about 1,000 per day. Smiley

And there's still a lot of people waiting to see which way the price goes before they make a decision. I think it's going to take big individual buyers or sellers to push it either way.
GreekGeek
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April 15, 2013, 12:34:20 PM
 #23079

No sign yet of the tens of thousands of new Mt. Gox depositors lined up to buy ...

In fairness, gox only verifies about 1,000 per day. Smiley

And there's still a lot of people waiting to see which way the price goes before they make a decision. I think it's going to take big individual buyers or sellers to push it either way.

+1

retirement fund : 1NBM5DM317RfWsHXKUfPUDtba2scavpPoB
DougTanner
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April 15, 2013, 12:34:43 PM
 #23080

Starting the morning off downwards a bit.


Help pay for my BTCCharts.com subscription: 1DTannerQHQD7qjSmA3abLQaDkVFLnBGma
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