Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-08-09)

In the face of an upward trend, profits should run
1. Market Trends <br/>Today is August 9, 2017. The current price of Bitcoin is 22,700 yuan. Yesterday, the price of the currency still showed a fluctuating upward pattern, and the probability of short-term correction has increased. However, in the face of the overall upward trend, profits should be allowed to run.
Looking at the 4-hour chart, the price of the currency has been slow to rise in the past two trading days. The MACD indicator has been showing a divergent trend, and the Bollinger Bands are gradually shrinking. We should pay attention to the callback in the short term. However, as shown in the figure, the price is far away from the trend line that started the big rebound on July 16, and the upward inclination of the K-line has increased. The short-term callback is still normal.
For more experienced investors, they can do swing trading here to avoid short-term risks and improve capital utilization, while less experienced investors can let profits run. No matter how unpredictable the market is, selling chips when the bull market is confirmed can always be regarded as irrational behavior.
Looking at the 1-hour chart, the price of the currency has fallen below the middle track of the Bollinger Band. The recent rebound peak is lower than the previous peak. The MA60 support line can be paid attention to during the day.
On the whole, as pointed out in the analysis a few days ago, the medium-term trend has been significantly improved, and the bull market is gradually unfolding. In this regard, you can focus on the upward trend line of the 4-hour chart. If the price falls below it, you can exit and wait and see, otherwise, let the profits run.

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