Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-08-21)

If the volume fails to break the support, intervene immediately after breaking through the resistance
1. Market Trends <br/>Today is August 21, 2017. The current price of Bitcoin is 27,700 yuan. When the price of Bitcoin broke through 30,000 yuan last week, the analysis of the currency zone clearly pointed out that short-term trading should be avoided because of the high-level stagnation in the daily chart, the rejection of the golden cross by the MACD indicator above the zero axis in the 4-hour chart, and the top divergence in the 1-hour chart.
In any investment market, there is a behavioral rule of avoiding risks when you see them and entering the market when you see profits. If you selectively ignore danger signals and deliberately emphasize positive signals, you will go further and further down the road of losses.
Looking at the 1-hour chart, the price of the coin stopped falling when it fell to around 27,000 on August 19, and the trading volume was heavy, which was also the point where the price of the coin stopped falling on August 16. Therefore, 27,000 is a very important support line. Once the short side effectively breaks through this support level, the short-term and medium-term should watch more and do less.
In addition, the bulls failed to attack 28,300 twice on August 30 due to the lack of heavy trading volume. If the bulls can break through this resistance level with large volume during the day, the overall trend is bullish and a light position can be entered. Remember, you must increase the volume. Don't chase the rise without heavy trading volume.
Finally, the price of the currency is obviously suppressed by the MA60 on the 1-hour chart. Bold and aggressive investors can intervene when the price breaks through the MA60, but they need to pay attention to the setting of the stop loss.
From the daily chart, the price of Ethereum is still in a consolidation pattern with shrinking volume, and the market may change at any time. From the 1-hour chart, the price is slightly breaking through the 2000 resistance level. Aggressive investors can intervene appropriately to go long, while conservative investors can intervene after the price breaks through 2200. Remember, no matter which resistance level is broken, it requires heavy trading volume. If not, it is best not to enter the market.

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.