Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
Fiat is pouring out from Gox's order book. Bears are better equipped for the next assault to $125.
It's crucial for the bulls to win that battle. If they win it for the second time the battlefield will be full of bear corpses, and they won't dare to try to take that spot again.
If they make it fall... Well, we will see much cheaper coins (below $120), and a mid term downtrend would be expected.
It's crucial for the bulls to win that battle. If they win it for the second time the battlefield will be full of bear corpses, and they won't dare to try to take that spot again.
If they make it fall... Well, we will see much cheaper coins (below $120), and a mid term downtrend would be expected.
i dont belive bids or ask volume has much to do with price
the volume trading has been going down since the "bubble"...(had nothing to do with dwolla etc) to me it's just silence before the storm .. and since we are trending up on the long run.. my best guess is that whoever wanted their money out of gox already did so. (like bitfinex they got all their btc and fiat out of gox )
the people who have lots of fiat cannot just simply put it on a bank without ringing some bells) and do not want to pay the withdraw fees.. on gox
like that 7k wall that got bought cheap yesterday.. this guy could have made much more fiat if he wanted out by selling slow. Since there's no other place to trade this volumes.. he'll be still in the game..
i'm a bull ofcourse i'm in for the long run too.
just my oppinion