Wall Observer - China wall movement tracker

[joesmoe2012]

Another key milestone reached by our Chinese friends...

¥  1.337 ? thats no milestone. I have one for U:

https://www.rmbtb.com/en/

This is a very difficult website to register;  always getting the 403 Forbidden or other error message.

Is there some special trick one has to have to use this website?

I had no issues registering nor testing out their exchange. Seems to work just fine for me. One of the only china exchanges with english interface too.

[Serpens66]

Another key milestone reached by our Chinese friends...

¥  1.337 ? thats no milestone. I have one for U:

https://www.rmbtb.com/en/

This is a very difficult website to register;  always getting the 403 Forbidden or other error message.

Is there some special trick one has to have to use this website?

I had no issues, too. The only "problem" was directly after registration, there was a browser message, that I should enter my password. But first I had to look in my emails, to get my password  So just cancel this message, look into ur mails and login by refreshing the website.

Now the problem is, that u can only deposit/withdraw with TenPay or AliPay...  I think TenPay is not for "non-chinese" and I read AliPay is hard to register, is that right?

[2dogs]

The only "problem" was directly after registration, there was a browser message, that I should enter my password. But first I had to look in my emails, to get my password

Ditto, and entered the password, but still wouldn't work.
Tried again and re-registered, but no go.

Have moved on to another website.

[notme]

This rally being China-driven is very frustrating considering how volatile movement has been on Chinese exchanges... such thin market depth is really hard to read. I am worried about the virtually non-existent bid support.

If it is "China-driven", why are USD exchanges making new highs while CNY exchanges consolidate?

[theonewhowaskazu]

This rally being China-driven is very frustrating considering how volatile movement has been on Chinese exchanges... such thin market depth is really hard to read. I am worried about the virtually non-existent bid support.

If it is "China-driven", why are USD exchanges making new highs while CNY exchanges consolidate?

Exactly. Looking at Gox, we're just 20% off from an all time high, but BTCChina is 35% of an all time high. If anything, last time the Chinese were rallying more than  they are now.

[MAbtc]

This rally being China-driven is very frustrating considering how volatile movement has been on Chinese exchanges... such thin market depth is really hard to read. I am worried about the virtually non-existent bid support.

If it is "China-driven", why are USD exchanges making new highs while CNY exchanges consolidate?

The Chinese exchanges shot up in price much, much faster than western exchanges on the 10/22 morning rally. One exchange peaked at $240 USD equivalent. Since USD exchanges were lagging behind quite a bit, they didn't have to correct to the same magnitude. Chinese exchange rate being so far above Gox was not sustainable.

[zby]

This rally being China-driven is very frustrating considering how volatile movement has been on Chinese exchanges... such thin market depth is really hard to read. I am worried about the virtually non-existent bid support.

If it is "China-driven", why are USD exchanges making new highs while CNY exchanges consolidate?

IMO it started off as China-driven, but with places like Second Market - finally old money is looking at Bitcoin as a store of wealth (additional creation).

Maybe they sucked all bitcoins from the ecosystem? Or maybe it is just arbitrage that is going on now.

[Tzupy]

China is slowly going up again. I left blank space for the next 5 days.
 

[rampantparanoia]

watching this topic as we now know who our new overlords are.

[SheHadMANHands]

It's an interesting dynamic with China now, which is at 1196 CNY (~$196) still.  Do you think it adds some stability (the fact that it's not just Gox now.. and multiple markets)?  They can all sort of dampen each other a bit.

[totaleclipseofthebank]

It's really quiet in china today... Probably not a good sign

[theonewhowaskazu]

It's an interesting dynamic with China now, which is at 1196 CNY (~$196) still.  Do you think it adds some stability (the fact that it's not just Gox now.. and multiple markets)?  They can all sort of dampen each other a bit.

Yes, agreed. Ideally, each country would have its own local exchange which can exchange to/from that country & its currency for very cheap & fast. At this point BTC would for practical purposes beat Western Union.

For example, US has Coinbase (1% fee), China has BTCChina (1% fee). The best thing the Eurozone has is Bitstamp.

[Zangelbert Bingledack]

It's really quiet in china today... Probably not a good sign

It's the best sign possible. Going up would be bad, going down would be bad. Only jumping around in a tight range would be equal, but quiet is just as good. We need to take a breather, and being able to do it without having to go down is slightly better than going down and up again.

[MAbtc]

1150 cny broke on btcchina, saw it hit 1142. 1149 last price.

[Tzupy]

It's really quiet in china today... Probably not a good sign

It's the best sign possible. Going up would be bad, going down would be bad. Only jumping around in a tight range would be equal, but quiet is just as good. We need to take a breather, and being able to do it without having to go down is slightly better than going down and up again.

You don't seem to understand where we are. Right now we are going down, but with limited seller pressure (for now) this drop is lame.
And then we go up again, possibly with a nice fast rally (or two), and then we crash again.

[Zangelbert Bingledack]

Where we are is overbought. We needed a breather, and a little crash will do just as well.

With Bitcoin, exponential growth tends to continue until it gets even faster than exponential, at which point it is bound to correct soon. And usually it will overcorrect. Then it usually continues its trend until that trend is exhausted. I definitely do not think this trend (of the past few weeks) is near exhaustion. A correction at the hugely overbought levels of a day or two ago was practically a foregone conclusion. I was expecting it and hoping for it (or for flatlining, but Bitcoin gets bored with that). We still have a few more days of correcting to do before the trend catches up to current price levels, so further correction is welcomed and expected. Then we might overcorrect a bit then get back on the uptrend, or just get straight back on the uptrend.

So far the bouts of selling we are seeing now could hardly be any healthier and expected. It's the quintessential healthy retracement. And probably has a little more correcting to do. Then up!

[Corelianer]

Where we are is overbought. We needed a breather, and a little crash will do just as well.

With Bitcoin, exponential growth tends to continue until it gets even faster than exponential, at which point it is bound to correct soon. And usually it will overcorrect. Then it usually continues its trend until that trend is exhausted. I definitely do not think this trend (of the past few weeks) is near exhaustion. A correction at the hugely overbought levels of a day or two ago was practically a foregone conclusion. I was expecting it and hoping for it (or for flatlining, but Bitcoin gets bored with that). We still have a few more days of correcting to do before the trend catches up to current price levels, so further correction is welcomed and expected. Then we might overcorrect a bit then get back on the uptrend, or just get straight back on the uptrend.

So far the bouts of selling we are seeing now could hardly be any healthier and expected. It's the quintessential healthy retracement. And probably has a little more correcting to do. Then up!

normally it goes, up, down, flat, going from down directly to up again is highly unlikely...

So after the down, there comes a flat phase first

[MAbtc]

Eek. Those sell walls popped up pretty quick. Popcorn time. 1000 CNY to hold? 

[MAbtc]

Sell wall down quite a bit. Perhaps 1000 CNY will hold and this is the local bottom.

[MAbtc]

Sell pressure seems to be drying up a bit. ¥1,040.02 Last price.