Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-07-26)

The price of the currency rebounded weakly and hit the downward channel
1. Market Trends <br/>Today is July 26, 2017. The current price of Bitcoin is 17,600 yuan. Yesterday, the bulls were slow to break through the 19,000 mark, and the bears took the opportunity to suppress the price of the currency, and the lowest point of the day reached 17,000. At present, the short-term has fallen into a downward channel.
Looking at the 4-hour chart, the price of the currency was suppressed by the short side when it broke through the upper resistance line of the channel. After the large-scale decline, the short side continued to expand the results and suppressed the price of the currency to the lower support line of the channel. In the near future, the price of the currency may fluctuate and fall within this channel. Investors can operate with light positions and should not hold heavy positions.
Looking at the 1-hour chart, the rebound of the currency price after the decline is obviously weak, because the trading volume has shrunk extremely, indicating that the market lacks bullish momentum in the short term.
Overall, the mid-term adjustment trend remains, and short-term breakthroughs are always slow and weak. Short-term investors can operate according to the downward channel pattern of the 4-hour chart, that is, when the currency price touches the lower support line, they should go long with a light position, and when it touches the upper resistance line, they should go short with a light position. Stop loss and stop profit positions should be strictly set to prevent losses from expanding due to breakthroughs.
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.