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

[fewcoins]

The Huobi bid walls are real, btw.  A portion was eaten.  But the rest remain.

Only because China just woke up! What will you say about buy walls when the price is lower tomorrow?

[siera]

The Huobi bid walls are real, btw.  A portion was eaten.  But the rest remain.

Only because China just woke up! What will you say about buy walls when the price is lower tomorrow?

China in near siesta now 

http://dx.qsl.net/propagation/greyline.html

[Raystonn]

And now the wall at 2353 got completely eaten.  Still a few more walls.  Let's see what happens.

[Wary]

btccharts.com doesn't mean btc china the exchange.

When I load it up I see a couple BTCChina charts, one Bitstamp chart, and one BTC-e chart.  I don't see Huobi, which is the most relevant exchange in China by far.

Click on CNY on the top row and you'll see Huobi

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[fonzie]

I came across this interesting oddity on http://btccharts.com/
on one of the screens you can click on 'Top Traders' and up pops a window like this --



Clearly this is not data from Stamp (how would they get such data) but must be from btccharts users although I'm still not sure how they would harvest such data.

But it is interesting in terms of sentiment: out of the top ten seven are classed as bears.

Well we have been in a strong bear trend for weeks/months, so no wonder that those who traded and accepted the trend have done better.

[lemonte]

http://btccharts.everdot.org

Who does this belong too? Some fun stuff in here  

[phoenix1]

http://www.sovereignman.com/finance/top-finance/this-is-huge-chinese-renminbi-becomes-directly-tradable-with-the-euro-15133/

Perhaps this would cause some lessening of buying in the Chinese markets. But then it would also cause less selling in the Western markets. Net effect = 0, imo, but I'm no expert and would love a second opinion.

Long term this is bearish for the dollar. It will contribute to the fall of the Petrodollar and the rise of the Renimbi to full reserve currency status.
As the recent fall in BTC is directly correlated with USD strength, this is possibly bullish for BTC as we may see the USD weaken on this news. The cynic in me thinks this may actually explain part of the recent run-up in the dollar ... a pump and dump by the big players with insider knowledge.

Watch for a turn around in $ ...

https://www.tradingview.com/v/KcWtJSaK/

Interesting times.

[btcney]

http://btccharts.everdot.org

Who does this belong too? Some fun stuff in here  

What is this?

Nice stuff there, lol :
http://btccharts.everdot.org/bullbearsept2014.pdf

[bzzard]

I came across this interesting oddity on http://btccharts.com/
on one of the screens you can click on 'Top Traders' and up pops a window like this --



Clearly this is not data from Stamp (how would they get such data) but must be from btccharts users although I'm still not sure how they would harvest such data.

But it is interesting in terms of sentiment: out of the top ten seven are classed as bears.

Well we have been in a strong bear trend for weeks/months, so no wonder that those who traded and accepted the trend have done better.

This is new thing on btccharts - virtual trading. Those are NOT real positions. This is still uncomplete. Wait two more weeks (but you can play with it now if you wish).

[DutchTrades]

The wall on stamp is getting smaller

[Room101]

http://www.sovereignman.com/finance/top-finance/this-is-huge-chinese-renminbi-becomes-directly-tradable-with-the-euro-15133/

Perhaps this would cause some lessening of buying in the Chinese markets. But then it would also cause less selling in the Western markets. Net effect = 0, imo, but I'm no expert and would love a second opinion.

Long term this is bearish for the dollar. It will contribute to the fall of the Petrodollar and the rise of the Renimbi to full reserve currency status.
As the recent fall in BTC is directly correlated with USD strength, this is possibly bullish for BTC as we may see the USD weaken on this news. The cynic in me thinks this may actually explain part of the recent run-up in the dollar ... a pump and dump by the big players with insider knowledge.

Watch for a turn around in $ ...

https://www.tradingview.com/v/KcWtJSaK/

Interesting times.

You do realise you can't be a creditor nation and be the reserve currency at the same time yes? For Renimbi to achieve reserve currency status China would need to run massive deficits, which i don't see happening anytime soon.

[ChartBuddy]

Explanation

[prophetx]

http://www.sovereignman.com/finance/top-finance/this-is-huge-chinese-renminbi-becomes-directly-tradable-with-the-euro-15133/

Perhaps this would cause some lessening of buying in the Chinese markets. But then it would also cause less selling in the Western markets. Net effect = 0, imo, but I'm no expert and would love a second opinion.

Long term this is bearish for the dollar. It will contribute to the fall of the Petrodollar and the rise of the Renimbi to full reserve currency status.
As the recent fall in BTC is inversely correlated to USD strength, this is possibly bullish for BTC as we may see the USD turn around on this news. The cynic in me thinks this may actually explain part of the recent run-up in the dollar ... a pump and dump by the big players with insider knowledge.
Interesting times.

Yes, very. Timing's interesting too, Japanese and European markets are falling and look like they're gaining momentum and the props are shaking on US markets. Any thought's on the change of head at PBOC?

some say that that $ may reach parity with the € by year's end.

[seljo]

http://www.sovereignman.com/finance/top-finance/this-is-huge-chinese-renminbi-becomes-directly-tradable-with-the-euro-15133/

Perhaps this would cause some lessening of buying in the Chinese markets. But then it would also cause less selling in the Western markets. Net effect = 0, imo, but I'm no expert and would love a second opinion.

Long term this is bearish for the dollar. It will contribute to the fall of the Petrodollar and the rise of the Renimbi to full reserve currency status.
As the recent fall in BTC is inversely correlated to USD strength, this is possibly bullish for BTC as we may see the USD turn around on this news. The cynic in me thinks this may actually explain part of the recent run-up in the dollar ... a pump and dump by the big players with insider knowledge.
Interesting times.

Yes, very. Timing's interesting too, Japanese and European markets are falling and look like they're gaining momentum and the props are shaking on US markets. Any thought's on the change of head at PBOC?

some say that that $ may reach parity with the € by year's end.

I heard the same thing about 1-1, $-€

[phoenix1]

http://www.sovereignman.com/finance/top-finance/this-is-huge-chinese-renminbi-becomes-directly-tradable-with-the-euro-15133/

Perhaps this would cause some lessening of buying in the Chinese markets. But then it would also cause less selling in the Western markets. Net effect = 0, imo, but I'm no expert and would love a second opinion.

Long term this is bearish for the dollar. It will contribute to the fall of the Petrodollar and the rise of the Renimbi to full reserve currency status.
As the recent fall in BTC is directly correlated with USD strength, this is possibly bullish for BTC as we may see the USD weaken on this news. The cynic in me thinks this may actually explain part of the recent run-up in the dollar ... a pump and dump by the big players with insider knowledge.

Watch for a turn around in $ ...

https://www.tradingview.com/v/KcWtJSaK/

Interesting times.

You do realise you can't be a creditor nation and be the reserve currency at the same time yes? For Renimbi to achieve reserve currency status China would need to run massive deficits, which i don't see happening anytime soon.

I did not man to imply an imminent replacement of the dollar, just a shift in the balance.
And actually, yes, I do believe that the future lies in the China running trade deficits primarily from the import of food and energy and raw materials rather than consumer goods. As demand for exported Chinese goods from increasing impoverished Western consumers decreases, the balance will shift. Obviously this will not happen overnight.

[prophetx]

http://www.sovereignman.com/finance/top-finance/this-is-huge-chinese-renminbi-becomes-directly-tradable-with-the-euro-15133/

Perhaps this would cause some lessening of buying in the Chinese markets. But then it would also cause less selling in the Western markets. Net effect = 0, imo, but I'm no expert and would love a second opinion.

Long term this is bearish for the dollar. It will contribute to the fall of the Petrodollar and the rise of the Renimbi to full reserve currency status.
As the recent fall in BTC is directly correlated with USD strength, this is possibly bullish for BTC as we may see the USD weaken on this news. The cynic in me thinks this may actually explain part of the recent run-up in the dollar ... a pump and dump by the big players with insider knowledge.

Watch for a turn around in $ ...

https://www.tradingview.com/v/KcWtJSaK/

Interesting times.

You do realise you can't be a creditor nation and be the reserve currency at the same time yes? For Renimbi to achieve reserve currency status China would need to run massive deficits, which i don't see happening anytime soon.

yes indeed.  however this article from 2013 is interesting, talking about US current accounts possibly being positive at some point in the near future

http://www.businessinsider.com/renminbi-soon-to-be-a-reserve-currency-2013-9

[jeezy]

https://www.tradingview.com/v/KcWtJSaK/

Interesting times.

Very interesting indeed. Thanks for linking this.

[Room101]

http://www.sovereignman.com/finance/top-finance/this-is-huge-chinese-renminbi-becomes-directly-tradable-with-the-euro-15133/

Perhaps this would cause some lessening of buying in the Chinese markets. But then it would also cause less selling in the Western markets. Net effect = 0, imo, but I'm no expert and would love a second opinion.

Long term this is bearish for the dollar. It will contribute to the fall of the Petrodollar and the rise of the Renimbi to full reserve currency status.
As the recent fall in BTC is directly correlated with USD strength, this is possibly bullish for BTC as we may see the USD weaken on this news. The cynic in me thinks this may actually explain part of the recent run-up in the dollar ... a pump and dump by the big players with insider knowledge.

Watch for a turn around in $ ...

https://www.tradingview.com/v/KcWtJSaK/

Interesting times.

You do realise you can't be a creditor nation and be the reserve currency at the same time yes? For Renimbi to achieve reserve currency status China would need to run massive deficits, which i don't see happening anytime soon.

yes indeed.  however this article from 2013 is interesting, talking about US current accounts possibly being positive at some point in the near future

http://www.businessinsider.com/renminbi-soon-to-be-a-reserve-currency-2013-9

Good article thanks