Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-08-10)

The price of the currency fluctuates downward and the short-term trend cannot be broken.
1. Market Trends <br/>Today is August 10, 2017. The current price of Bitcoin is 22,400 yuan. The price of Bitcoin fell slightly in the late trading yesterday, reaching a low of 21,691 yuan during the day, and then the bulls began to rebound, but still failed to recover all the losses during the day, and the fluctuation peaks and valleys still showed a trend of decreasing in sequence.
In fact, as shown in the 1-hour chart, after the coin price hit a record high on August 8, the high point of fluctuation has been decreasing, and the bottom is also decreasing overall. This shows that the coin price has entered a period of adjustment after rising high, and short-term profit-making should be based on light positions.
If the price of the currency breaks through the downward resistance line shown in the figure today, investors should pay attention to whether the bulls can break through the previous high of 22800 with large volume. If it breaks, light positions will be intervened, otherwise, more watching and less action will be taken.
The most important thing about investment is to follow the trend. After we use technical analysis and fundamental news to confirm the trend within a certain period of time, we set the tone for the operation direction - if it is in an upward trend, we should mainly go long, and if it is in a downward trend, we should mainly go short. The most powerful evidence to confirm the trend is whether the bottom is rising or falling in sequence. Only in this way can we achieve a happy investment and a happy life.
At present, although the price of Bitcoin has fluctuated and fallen in recent trading days, the medium-term trend remains good. Therefore, short-term short selling to gain profits should be mainly light positions, and long positions can still be mainly medium-light positions. If it is a medium- to long-term investment, just hold the position and wait for the price to rise.

2. Newcomer Index <br/>The figure shows the 12-hour newcomer index.