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

[peonminer]

[1715080883]

1715080883

[1715080883]

1715080883

[1715080883]

1715080883

[1715080883]

1715080883

[MasterYii]

Wall Observer
A free service brought to you by the bitcoin community

Whenever there is a significant change in market depth, please update this thread with a new depth chart, and a good price chart with some TA is also welcome, feel free to comment on these if you have something to worth contributing, ( if your post is not at all TA it will be deleted )

Posting guild lines:
 Please lets keep this thread clean. ( I will be removing any off topic posts )
 Do not post random comments on this thread, unless it is directly related to the last wall update (ex. The 20K ask was was NOT sold into, it was removed after being tested)
 When you post a chart please use bitcoincharts.com, mtgoxlive.com, btccharts.com or bitcoinity.com

as requested, i have started a new thread.
this thread is now a self-moderated topic.
I will try and keep this thread clean, with only facts, current trends, past price movements, depth charts, etc.
I promise to not delete post simply because i do not agree with the bearish TA.

thank you for your input!

We needed more regulation around this bitch.

the rules of this thread is an attempt to keep this thread from having +1000 post when price is doing big moves, and instead relay important indicators during critical moments.
also when the market is more calm we can expect to see wall posts and TA price charts, back to back without any relevant chatting, making easier to analyze.
there are other threads where speculators can discuss their sentiment, just not here...

That 1000+ page thread was getting kinda useless.

How about bitcoinium.com pics? I can never get mtgoxlive to load

thats fine too,
I'm looking for quality charts or good TA bearish or bullish.

asking good questions example....

Interesting pattern I've noticed. It's been sort of bouncing downwards for the last 4 days. Is there a technical term for this sort of thing?

is also welcome here.


just don't be posting about your "FEELINGS" and you won't get delete.  

A lot of people have heard about biticoin by now and talk about it but few believe in it, that's what I observe.

[ChartBuddy]

Coin
Explanation

[gentlemand]

A lot of people have heard about biticoin by now and talk about it but few believe in it, that's what I observe.

They've heard the word. I seriously doubt the overwhelming majority have taken ten minutes to try and figure out what it actually is.

[ChartBuddy]

Coin
Explanation

[Cconvert2G36]

So we're supposed to believe okcoin just had 80k btc in volume in the range of a few yuan? This is pretty ridiculous.

I'm not buying the validity of this rally so far. Seems like everyone other than bitfinex (maybe coinbase exchange?) has plenty of wash "trading" going on.

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

A lot of people have heard about biticoin by now and talk about it but few believe in it, that's what I observe.

What's your circle of people? 

I mean really? 

Maybe some of the people I know directly know about Bitcoin because I talk about Bitcoin quite a bit, but if I venture outside of my circle, people really don't know, and if you ask them about it, they really do NOT know much of anything.

Maybe the word has gotten out in the last couple of years a bit more in the places of the world with decent internet connections etc; however, I would still venture that a large number of people really don't know much of anything about bitcoin.. even when they say that they do.

Maybe in technological circles we may have 20% having had heard about it and maybe less than 10% have a decent grasp of bitcoin..

Now if you get into non-technological circles, then I would surmise that less than 10% have heard of it and less than 5% can really articulate anything about BTC.

overall, we need to get real about this knowledge of bitcoin matter, because when we come down to it, there are likely less than 10 million people world-wide that have any BTC holdings now or ever in the history of BTC, and accordingly, that is less than .01% of the world's population.... there is a long way to go, baby when it comes to knowledge of bitcoin. 

[koryu]

I think 260$ will be critical but if we go through then fasten your seat belts for a rally to 340$ 

[JorgeStolfi]

So we're supposed to believe okcoin just had 80k btc in volume in the range of a few yuan? This is pretty ridiculous.

Indeed.  Did those events start recently, or have they always happened, and I just did not notice them?

Could they be some money laundering trick? (One would expect money launderers to be smarter at hiding their doings...)

Perhaps the Chinese exchanges read about Tera's wash trades, and thought "bummer, those guys cannot do that because they are regulated, but we are not -- why aren't we doing wash trades ourselves?"

I'm not buying the validity of this rally so far. Seems like everyone other than bitfinex (maybe coinbase exchange?) has plenty of wash "trading" going on.

I have read rumors that China is about to devalue the yuan.  Traders who had yuan in their accounts may be buying BTC as a way to ride over the devaluation with a profit.  In other words, the price in China ir not really higher than in the US: it merely has the expected devaluation of the yuan already  priced in.  Maybe?

If that is the reason, the rise in price in China may be limited to the expected devaluation of the Yuan.  That is, if they expect a 10% devaluation of they yuan, and expect the USD price to remain about the same, the price in Chine should not rise by more than 10%.

[ChartBuddy]

Coin
Explanation

[noobtrader]

I have read rumors that China is about to devalue the yuan.  Traders who had yuan in their accounts may be buying BTC as a way to ride over the devaluation with a profit.  In other words, the price in China ir not really higher than in the US: it merely has the expected devaluation of the yuan already  priced in.  Maybe?

If that is the reason, the rise in price in China may be limited to the expected devaluation of the Yuan.  That is, if they expect a 10% devaluation of they yuan, and expect the USD price to remain about the same, the price in Chine should not rise by more than 10%.

thats true but then the devaluation of yuan will put some pressure to the regional currency IMHO

[Cconvert2G36]

Indeed.  Did those events start recently, or have they always happened, and I just did not notice them?

Could they be some money laundering trick? (One would expect money launderers to be smarter at hiding their doings...)

Perhaps the Chinese exchanges read about Tera's wash trades, and thought "bummer, those guys cannot do that because they are regulated, but we are not -- why aren't we doing wash trades ourselves?"

I've noticed it happening on Huobi for a long time (forever?) but usually 5-10k btc candles. The level of ridiculous okcoin candles is somewhat new though, the last couple days? With 0 fee trading you always expect some of this going on. Bitstamp has had some strange action in the last week or so, thousands of btc trading in the range of a couple dollars, you didn't usually see this on bitstamp before. People on reddit and here have talked about the 47, 99, 197 bots etc.

It wouldn't be of any benefit in laundering money in the traditional sense. Passing through a chinese crypto exchange doesn't make illegally obtained funds somehow legitimate when they come out the other end.

I have read rumors that China is about to devalue the yuan.  Traders who had yuan in their accounts may be buying BTC as a way to ride over the devaluation with a profit.  In other words, the price in China ir not really higher than in the US: it merely has the expected devaluation of the yuan already  priced in.  Maybe?

If that is the reason, the rise in price in China may be limited to the expected devaluation of the Yuan.  That is, if they expect a 10% devaluation of they yuan, and expect the USD price to remain about the same, the price in Chine should not rise by more than 10%.

An interesting thesis, and it may be happening to some extent, but I don't see the scenario as sufficient to explain the level of volume compared to the relative lack of price change. If it really were a panic to get out of yuan and get into btc, I would expect volatility to increase in line with the volume.

[mavericklm]

Can some1 calculate were are we will be in 1year going the way that we have gone this last 7days?
moooooon?!?!

[Fakhoury]

Can some1 calculate were are we will be in 1year going the way that we have gone this last 7days?
moooooon?!?!

If any of us "truly" know, then the sub-forum name should have changed from "speculation" to "facts" !!

[ChartBuddy]

Coin
Explanation

[Miss Fortune]

Wall Observer
A free service brought to you by the bitcoin community

Whenever there is a significant change in market depth, please update this thread with a new depth chart, and a good price chart with some TA is also welcome, feel free to comment on these if you have something to worth contributing, ( if your post is not at all TA it will be deleted )

Posting guild lines:
 Please lets keep this thread clean. ( I will be removing any off topic posts )
 Do not post random comments on this thread, unless it is directly related to the last wall update (ex. The 20K ask was was NOT sold into, it was removed after being tested)
 When you post a chart please use bitcoincharts.com, mtgoxlive.com, btccharts.com or bitcoinity.com

as requested, i have started a new thread.
this thread is now a self-moderated topic.
I will try and keep this thread clean, with only facts, current trends, past price movements, depth charts, etc.
I promise to not delete post simply because i do not agree with the bearish TA.

thank you for your input!

We needed more regulation around this bitch.

the rules of this thread is an attempt to keep this thread from having +1000 post when price is doing big moves, and instead relay important indicators during critical moments.
also when the market is more calm we can expect to see wall posts and TA price charts, back to back without any relevant chatting, making easier to analyze.
there are other threads where speculators can discuss their sentiment, just not here...

That 1000+ page thread was getting kinda useless.

How about bitcoinium.com pics? I can never get mtgoxlive to load

thats fine too,
I'm looking for quality charts or good TA bearish or bullish.

asking good questions example....

Interesting pattern I've noticed. It's been sort of bouncing downwards for the last 4 days. Is there a technical term for this sort of thing?

is also welcome here.


just don't be posting about your "FEELINGS" and you won't get delete.  

I think this is interesting just like the value of it in the market has to be closely observed so that the investors may have an idea what to do with there
investments.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation