Wall Observer - MtGoxUSD wall movement tracker

[proudhon]

Get ready; we're just $30k away from breaking the $7.22 record.

and when we do...my gaud, stand back.

I think the volume is going to start filling back in, and in a big way.  Remember, things looked like this when we were knocking up against $7.22, and then very quickly the order booked flipped around and down we went.  This craziness is almost making me take 1000 or so bitcoins out of offline storage to sell.

Although the order book was lopsided then (though I don't think quite as much as now), remember that price had started from $2 that time. After the second bounce off $2, it was a cautious approach to $4-$5. But when $4-$5 broke, it gapped up to $7. What we're seeing now is a cautious approach to $7, and I expect a big gap up to follow, before any correction.

Trends are strong, and this one is still building momentum.

Maybe.  But I think that until adoption significantly increases, movements are going to trend down in intensity.  I don't see indications that adoption is increasing that much.  Of course, I might be on the verge of being proven wrong in a big way.  It's not that I have any more info than most everyone else, I'm just a lot more cautious having gone through the last year.

[ineededausername]

Get ready; we're just $30k away from breaking the $7.22 record.

and when we do...my gaud, stand back.

I think the volume is going to start filling back in, and in a big way.  Remember, things looked like this when we were knocking up against $7.22, and then very quickly the order booked flipped around and down we went.  This craziness is almost making me take 1000 or so bitcoins out of offline storage to sell.

Although the order book was lopsided then (though I don't think quite as much as now), remember that price had started from $2 that time. After the second bounce off $2, it was a cautious approach to $4-$5. But when $4-$5 broke, it gapped up to $7. What we're seeing now is a cautious approach to $7, and I expect a big gap up to follow, before any correction.

Trends are strong, and this one is still building momentum.

I agree.  We should be hitting $10 soon

[bitcoinBull]

Maybe.  But I think that until adoption significantly increases, movements are going to trend down in intensity.  I don't see indications that adoption is increasing that much.  Of course, I might be on the verge of being proven wrong in a big way.  It's not that I have any more info than most everyone else, I'm just a lot more cautious having gone through the last year.

I'm seeing some indications, eg a guy on SETI at home considering mining, Butterfly Labs products being beautiful and *gasp* legit, and YCombinator investing in coinbase. Another thing surprising, last week a merchant I know was contacted through his site by a local magazine and asked to do an interview.

There's no uptick on google trends yet, but if we get over $10 I bet we see one.

[cloon]

7.2 broken!

[ineededausername]

7.2 broken!

The real high was $7.22... and we stopped at $7.21.  Gonna need to wait a little more

[Serge]

back to $5 we go

[Yuhfhrh]

back to $5 we go

[Piper67]

back to $5 we go

Nah. Got to love it when someone dumps 10K BTC and the market just goes "meh" 

[adamstgBit]

Its about time!

[ineededausername]

We broke $7.22...

Let's wait for the wall to go away and we can go to $7.50.

[proudhon]

We broke $7.22...

Let's wait for the wall to go away and we can go to $7.50.

Good luck.  I seriously doubt there's another guy out there willing to go through 30,000+BTCs.  In all likelihood this marks the end of this rally and we can, hopefully, chill out for a few months.  If all those asks are pulled and the market decides to go higher, it's just going to make the inevitable crash all the more spectacular.  This guy (re: pirate) stepped in later than I would have liked, but in the long run, it's a good thing he stepped in to cool things off.

[ineededausername]

We broke $7.22...

Let's wait for the wall to go away and we can go to $7.50.

Good luck.  I seriously doubt there's another guy out there willing to go through 30,000+BTCs.  In all likelihood this marks the end of this rally and we can, hopefully, chill out for a few months.  If all those asks are pulled and the market decides to go higher, it's just going to make the inevitable crash all the more spectacular.  This guy (re: pirate) stepped in later than I would have liked, but in the long run, it's a good thing he stepped in to cool things off.

I'm pretty sure he stepped in quite a few times before this.  What makes you think this time is different?
edit: Market overheating -> manipulator steps in with 30000 wall -> market calms down -> manipulator takes away wall -> market goes up again -> market overheating -> ...

[Technomage]

I'm certainly glad that someone put a stop to this. My new deposits are still on the way. I hope there is a flash crash just in time for my deposits.

[teflone]

Someone get a screen cap of it again..

This is hilarious

[adamstgBit]

The Rally is back on track!  

[Spekulatius]

Actuall, this seems not no make sense acting so erratically,

BUT:
What we have seen here might have been a signal to all buyers out there: "I will sell, expect me!"

By the size of his wall, I hardly doubt it would have any strong effect. Especially among the recent buying pressure.

[BoardGameCoin]

The Rally is back on track!  

We should clarify that the 40K BTC wall was removed, not purchased through, so caveat emptor.

[cheat_2_win]

Actuall, this seems not no make sense acting so erratically,

BUT:
What we have seen here might have been a signal to all buyers out there: "I will sell, expect me!"

By the size of his wall, I hardly doubt it would have any strong effect. Especially among the recent buying pressure.

I seriously doubt he will sell. Once he sells, he will either have to buy back or will lose the the ability to scare in the future. And even if he sells, where will that take the price to? 6.75.

Only scenario I see him selling is if he has a lot more bitcoin than 30K that he showed.

[julz]

...
You know there are people that exist with millions of dollars and blow it like Kim Dotcom
You know there are people that exist like Kim Dotcom that have already bought into the game and looking to sell
...

Interestingly... A few hours ago, KimDotcom retweeted a comment to him by Falkvinge regarding Bitcoin:

Falkvinge:

@KimDotcom I'd love to see bitcoin take off - unseizable, transfers in a flash, almost untraceable, and would kill the legacy banking system

https://twitter.com/falkvinge/status/222760194176847872

[FreeMoney]

...
You know there are people that exist with millions of dollars and blow it like Kim Dotcom
You know there are people that exist like Kim Dotcom that have already bought into the game and looking to sell
...

Interestingly... A few hours ago, KimDotcom retweeted a comment to him by Falkvinge regarding Bitcoin:

Falkvinge:

@KimDotcom I'd love to see bitcoin take off - unseizable, transfers in a flash, almost untraceable, and would kill the legacy banking system

https://twitter.com/falkvinge/status/222760194176847872

Nice.