Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-07-27)

The general trend of volume adjustment remains unchanged
1. Market Trends <br/>Today is July 27, 2017. The current price of Bitcoin is 17,200 yuan. Yesterday afternoon, the short side pushed the price down to below the falling channel, and the lowest point of the day reached 16,523, and then the rebound made the price return to this channel.
Looking at the 4-hour chart, the moving average system (5, 10, 20) has an obvious bearish pattern, and the MACD indicator has crossed the zero axis, with strong bearish momentum. Overall, the price of the currency at this level is in a falling cycle, but if it can break through the 17,300 price, the price will run towards the upper resistance line of the channel again, and there are short-term opportunities, but due to the high risk, it is not recommended to seize the profits of this band.
Looking at the 1-hour chart, the trading volume during the bullish rebound in the past two trading days has shrunk extremely, while the bearish pressure on the coin will result in a considerable trading volume. Before the bullish attack releases a considerable trading volume, it is difficult for the coin price to break through the resistance line of the downward channel.
In addition, as shown in the figure, the 1-hour price trend of the currency shows a head and shoulders bottom pattern, and has broken through the neckline upwards. There will be a small rebound during the day.
Overall, the price of the currency is still in the downward channel since July 21, and the general trend of adjustment has not changed. However, since the bears failed to continue to suppress and expand the results when the lower support level was touched, the price of the currency is rebounding. Risk-averse investors can wait for the trend to reverse before gradually building positions, while risk-loving short-term investors can intervene with light positions and go long, with the stop-profit set below the channel resistance line and the stop-loss set near the channel support line.
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.