Wall Observer - MtGoxUSD wall movement tracker

[ajk]

The pattern of price movement changed. The sellers are waiting for a decent amount of bids to build above a certain price point, and then dump down to this price point.

This suggests to me that the piles of stashed BTC are now coming out of hiding, and the price point they are comfortable with seems to be around 31 USD/BTC. The next week or so may indeed be interesting, and not in a way it was "interesting" for the last 6 weeks.

Well, a little bit of diversity may even be refreshing...  

Right.. and where did you sell at? and how many bitcoins do you have?

[creativex]

Coinbase is bought out for the day.

Actually they are down for maintenance.

Worked just fine for me, until I tried to buy the dip. Then I got a msg saying they were bought out for the day.

[Piper67]

just want to add this

when the Bid side is usually weak there isnt a sell off (no money to get maximum value), when the bid side is Super filled that is usually when I notice some big action moving

when the Ask side is usually strong there is usually big buys since there are alot of bitcoins sitting waiting to be scooped up,

this is just a observation from watching the price practically 24/7 with my other assets

That makes perfect sense from both buyers and sellers side.

I've said before that walls are magnets. People seem to think the opposite for some reason.

Some walls push, some walls pull.

[World]

I think normal Wall Street games doesn't work on the Bitcoin side. At least until more Wall Street players starts investing in Bitcoin.

I was thinking about this earlier after reading the coinlabs news.  The thing is, before Wall Street players can start playing these games with sums on another scale even to what we saw just now they will first have to acquire the Bitcoins to do it.  So unless they've been gradually building up BTC reserves by the time we see them up to their tricks I'm guessing both liquidity and price will be somewhere quite different to what it is today - and therefore able to handle it just as the market just handled this little episode

More interesting time will be Satoshi<>Wall Street players

[byronbb]

just want to add this

when the Bid side is usually weak there isnt a sell off (no money to get maximum value), when the bid side is Super filled that is usually when I notice some big action moving

when the Ask side is usually strong there is usually big buys since there are alot of bitcoins sitting waiting to be scooped up,

this is just a observation from watching the price practically 24/7 with my other assets

That makes perfect sense from both buyers and sellers side.

I've said before that walls are magnets. People seem to think the opposite for some reason.

Yes, walls serve as well priced liquidity for large buyers.

[ajk]

Right.. and where did you sell at? and how many bitcoins do you have?

I'm still a net buyer, and the amount of bitcoins I hold is consistent with my risk preferences.

All i read in this statement is that im a weak hand, My belief is that with no risk there is no reward safe players make safe money which usually is not much at all,

dont spread fud if you do not know what your talking about

[thoughtfan]

Right.. and where did you sell at? and how many bitcoins do you have?

I'm still a net buyer, and the amount of bitcoins I hold is consistent with my risk preferences.

All i read in this statement is that im a weak hand, My belief is that with no risk there is no reward safe players make safe money which usually is not much at all,

dont spread fud if you do not know what your talking about

fud?  I don't think you're reading the same posts I was.  It was just a speculative comment on what Arvicco's seeing and his interpretation of it.  Of course I may be missing something obvious.  If so please share - maybe I'm tired.

[adamstgBit]

anyone else amazed by last 3 hours of trading...  

*taking a closer look*

[ajk]

The pattern of price movement changed. The sellers are waiting for a decent amount of bids to build above a certain price point, and then dump down to this price point.

This suggests to me that the piles of stashed BTC are now coming out of hiding, and the price point they are comfortable with seems to be around 31 USD/BTC. The next week or so may indeed be interesting, and not in a way it was "interesting" for the last 6 weeks.

Well, a little bit of diversity may even be refreshing...  

Proof of said statement? this to me is FUD,

[creativex]

anyone else amazed by last 3 hours of trading... 

Not anymore, those huge swings barely get my attention these days.

[mccorvic]

anyone else amazed by last 3 hours of trading... 

Meh.  Silly bears are still trying to dump, but he market has decided that bitcoins are valuable and all the bad dumps do is let people buy cheap coins. It's just gonna keep happening.

[ajk]

intimidating red candle is now tiny baby cute red candle

[thoughtfan]

The pattern of price movement changed. The sellers are waiting for a decent amount of bids to build above a certain price point, and then dump down to this price point.

This suggests to me that the piles of stashed BTC are now coming out of hiding, and the price point they are comfortable with seems to be around 31 USD/BTC. The next week or so may indeed be interesting, and not in a way it was "interesting" for the last 6 weeks.

Well, a little bit of diversity may even be refreshing...  

Proof of said statement? this to me is FUD,

Ok, I suppose just as we interpret the market differently we interpret comments differently.  I'm just not seeing it - even with it bolded!

[ajk]

Ok, I suppose just as we interpret the market differently we interpret comments differently.  I'm just not seeing it - even with it bolded!

Cool?

[ElectricMucus]

intimidating red candle is now tiny baby cute red candle

That's called a doji. It may be cute, but sinister.

[cheat_2_win]

anyone else amazed by last 3 hours of trading...  

Meh.  Silly bears are still trying to dump, but he market has decided that bitcoins are valuable and all the bad dumps do is let people buy cheap coins. It's just gonna keep happening.

naa this is it, this is the top.

What is this obsession with 'the top'? Does it matter if you get 1 in 100 prediction correct?

[thoughtfan]

Ok, I suppose just as we interpret the market differently we interpret comments differently.  I'm just not seeing it - even with it bolded!

Cool?

Sure.

I welcomed the idea that this may be the case.  'Stashed BTC coming out of hiding' is an opportunity for more distribution of coin, it helps prevent the market from overheating and it lets those who have held them awhile reap their rewards by having some fiat to spend (or gold to buy or whatever).

Also because I'm not active with the day trading and just here for the show a change does make things more interesting.  Maybe that's why I'm not seeing it as FUD.

[ajk]

no. what im looking at is not a doji candle.

Regardless of if it was usually you need a big sell or buy prior or after the candle for it to represent a change in trend

also ive seen probably 1000s of doji candles be wrong, thats TA for you

[lebing]

intimidating red candle is now tiny baby cute red candle

That's called a doji. It may be cute, but sinister.

You know what - you're right.

I think that sell actually was some TA obsessed douchebag that thinks he can create a reversal by making a doji on a Thursday.

Thankfully the market has 0 fucks to give about TA.

[adamstgBit]

if it wasn't for the overwhelming volume even at these high prices i would say this is the top...

but theirs just to much volume.... can you imagine the crash silver would suffer if suddenly 0.1% of the total supply was DUMPED in this manner