Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-08-30)

It is expected that the bulls will break the consolidation and set a new high
1. Market Trends <br/>Today is August 30, 2017. The current price of Bitcoin is 29,800 yuan. Yesterday afternoon, the price of Bitcoin soared and broke the consolidation pattern that had lasted for four trading days. However, the price of the currency hovered below 30,000 overnight, indicating that 30,000 is still a resistance level, and the bulls have already made their move.
Looking at the 4-hour chart, the bulls broke through the consolidation zone with a large-volume medium-sized positive line, and it is normal for the subsequent shrinking volume to close the negative line. From the perspective of the trend, the market will start a new round of upward trend, but the premise is to break through 30,000 points.
At this point, the market is at the boundary between long and short positions from a technical point of view. Aggressive investors can buy at the current price. After breaking through 30,000, a new round of market will continue. If the breakthrough fails, stop loss and exit.
The currency zone analysis team believes that the market is likely to break through the 30,000 resistance level. However, conservative investors are advised to enter the market after the breakthrough is confirmed to ensure the safety of funds, while aggressive investors can operate according to the above strategy. It is worth noting that even if the currency price fails to break through 30,000 and temporarily falls, the bulls will attack again after accumulating strength, so it is highly likely that the price will effectively break through 30,000 this year.
The Ethereum market has clearly accelerated its rise. There is no need to chase the high prices of the part sold in the past few days, and the part you hold continues to let the profits run. You can choose to ignore the adjustments in the middle to avoid being shaken out.
2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" compiled by Coinzone based on statistics from domestic and foreign Bitcoin trading platforms. The purpose of the indicator is to analyze the distribution of long and short forces in the current market in order to better analyze and judge price trends.