Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[ChartBuddy]

Explanation

[windjc]

Someones putting up a wall on Stamp, everyone is buying in front of it and then its getting pulled. Like three times now.

Its even worse on Finex. I'd love to have someone explain to me what those guys are doing there. They put up a wall a little of it gets eaten and they take it down. Its almost like its timed. Like its a bot doing it.

In fact, I think I just answered my own question while typing this. I think there is a bot doing timed walls. As weird as that sounds.

[dreamspark]

Someones putting up a wall on Stamp, everyone is buying in front of it and then its getting pulled. Like three times now.

No there is someone putting limit orders well above the lowest selling price. The walls eats all the lowest asks until it has been filled.

And they are instantly removing them after placing them and the price running up abit in front. Its very weird.

[tablemanic]

And they are instantly removing them after placing them and the price running up abit in front. Its very weird.

Who ever is doing it at Bitstamp wants to buy.

Look at the amount of shorts on Finex, around the highest amount we ever have had at these price levels:
http://charts-bfxdata.rhcloud.com/bitfinexLiquidityBTC.php

A short squeeze could be comming up if prices doesn't go down soon.

[windjc]

And they are instantly removing them after placing them and the price running up abit in front. Its very weird.

Who ever is doing it at Bitstamp wants to buy.

Look at the amount of shorts on Finex, around the highest amount we ever have had at these price levels:
http://charts-bfxdata.rhcloud.com/bitfinexLiquidityBTC.php

A short squeeze could be comming up if prices doesn't go down soon.

There aren't many shorts. If you take the difference between what I shorted today and what was short yesterday, there is about 200 btc in additional shorts.

Meanwhile, there are A LOT more longs on margin than shorts. And its more expensive too. I can basically short for free.

[shmadz]

Someones putting up a wall on Stamp, everyone is buying in front of it and then its getting pulled. Like three times now.

No there is someone putting limit orders well above the lowest selling price. The walls eats all the lowest asks until it has been filled.

And they are instantly removing them after placing them and the price running up abit in front. Its very weird.

almost seems like someone is trying to test the tendencies of the other bots...

[Bitcoin_is_here_to_stay]

There are no bids on Houbi ladies and gentleman.

This is a problem.

It looking more and more like a major decoupling of exchanges is coming soon ala Gox redux.

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

[Bitcoin_is_here_to_stay]

How low do you guys think stamp would follow Huobi? I would speculate after about 350 people might stop.

All the way. Arbitrageurs will make sure

[dreamspark]

There are no bids on Houbi ladies and gentleman.

This is a problem.

It looking more and more like a major decoupling of exchanges is coming soon ala Gox redux.

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

Yes but arbing only works for so long when you cant get money back into a Chinese exchange.

[Bitcoin_is_here_to_stay]

A short squeeze could be comming up if prices doesn't go down soon.

But the price keep falling  I think leveraged longs may be squeezed soon, depending on their entry point.

[Bitcoin_is_here_to_stay]

And they are instantly removing them after placing them and the price running up abit in front. Its very weird.

Who ever is doing it at Bitstamp wants to buy.

Look at the amount of shorts on Finex, around the highest amount we ever have had at these price levels:
http://charts-bfxdata.rhcloud.com/bitfinexLiquidityBTC.php

A short squeeze could be comming up if prices doesn't go down soon.

There aren't many shorts. If you take the difference between what I shorted today and what was short yesterday, there is about 200 btc in additional shorts.

Meanwhile, there are A LOT more longs on margin than shorts. And its more expensive too. I can basically short for free.

Exactly. This is also how I understand the Bitfinex data. Btw, being leveraged long now puzzles me 

[Bitcoin_is_here_to_stay]

There are no bids on Houbi ladies and gentleman.

This is a problem.

It looking more and more like a major decoupling of exchanges is coming soon ala Gox redux.

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

Yes but arbing only works for so long when you cant get money back into a Chinese exchange.

That may be one reason why Chinese bears are dumping now - perhaps hoping to buy back at much lower price?

EDIT: anyway, for transaction to occur, we need a buyer - and CNY on Huobi . So far the volume there is still nominally high, if true.

[y3804]

There are no bids on Houbi ladies and gentleman.

This is a problem.

It looking more and more like a major decoupling of exchanges is coming soon ala Gox redux.

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

Yes but arbing only works for so long when you cant get money back into a Chinese exchange.

That may be one reason why Chinese bears are dumping now - perhaps hoping to buy back at much lower price?

EDIT: anyway, for transaction to occur, we need a buyer - and CNY on Huobi . So far the volume there is still nominally high, if true.

A lot of bulls are now stuck in leveraged longs as they didn't expect the Caixin news. Now they have to make a decision: lose a bit of money and close their position, or lose a LOT of money.

[wachtwoord]

There aren't many shorts. If you take the difference between what I shorted today and what was short yesterday, there is about 200 btc in additional shorts.

Meanwhile, there are A LOT more longs on margin than shorts. And its more expensive too. I can basically short for free.

I wouldn't short if they paid me.

I'm not a huge fan of leveraged long either though.

[aminorex]

I'm not seeing dumping on huobi.  Volume is low and nobody seems willing to sell below 2740 any more.

[ShroomsKit]

There are no bids on Houbi ladies and gentleman.

This is a problem.

It looking more and more like a major decoupling of exchanges is coming soon ala Gox redux.

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

Yes but arbing only works for so long when you cant get money back into a Chinese exchange.

That may be one reason why Chinese bears are dumping now - perhaps hoping to buy back at much lower price?

EDIT: anyway, for transaction to occur, we need a buyer - and CNY on Huobi . So far the volume there is still nominally high, if true.

A lot of bulls are now stuck in leveraged longs as they didn't expect the Caixin news. Now they have to make a decision: lose a bit of money and close their position, or lose a LOT of money.

As always the smart people are holding. Keep in mind easily 95% of these traders end up losing money. Holders, unless Bitcoin dies out, keep their money and will make profit eventually. Depending where you bought in.

[JorgeStolfi]

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

That is my understanding too.

Yes but arbing only works for so long when you cant get money back into a Chinese exchange.

Even if all "easy" deposit channels are cut off, I imagine that there will be ways to get money into the exchanges, e.g. taking cash to their offices.  Perhaps even after May 10.

Arbitrage seems to be a lucrative activity for those who have the skills and tools, so they have enough motivation and money to find a way.

[ChartBuddy]

Explanation

[aminorex]

If it gets hard to buy with CNY, I suspect a contraband premium will eventually apply.

[y3804]

I understand that withdrawing BTC from Huobi and such is still possible? If so, I do not believe we can have Gox-style decoupling - arbitrage, a.k.a. dumping Chinese coins on Bitsamp and such is still possible. It was complete inability to withdraw anything from Gox that coused its prices to decouple.

That is my understanding too.

Yes but arbing only works for so long when you cant get money back into a Chinese exchange.

Even if all "easy" deposit channels are cut off, I imagine that there will be ways to get money into the exchanges, e.g. taking cash to their offices.  Perhaps even after May 10.

Arbitrage seems to be a lucrative activity for those who have the skills and tools, so they have enough motivation and money to find a way.

Lol. Taking cash to their offices? That is worst case scenario for the Chinese exchanges.They certainly won't make manual trades on a large scale. The only way is to move offshore.

All of you guys expect Chinese exchanges to somehow find another workaround. PBOC will ban these workarounds every time. They want the exchanges to move out. They're not banning exchanges themselves, but all the ways to make an exchange profitable.

Now they're taking down China Merchants Bank, the only bank offering fiat deposit for BTCChina. Do you really think these guys want to handle cash deposits? lmao

Look at FXBTC. All they've said has been true up to now. They've now closed their exchange. suspended fiat deposit and withdrawals. they knew that the ban was real since the beginning. its only chinese exchanges who want to somehow play around the pboc guidelines. this wont last long, i promise