Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-30)

It is still better to be cautious if the volume is blocked
1. Market Trends <br/>Today is June 30, 2017. The current price of Bitcoin is RMB 18,040. Yesterday morning, the price of Bitcoin was generally in a box-shaped oscillation state, with the maximum fluctuation not exceeding 600 points. However, at 7 pm trading time, the short side once again suppressed the price of Bitcoin, reaching the lowest point of the day at 17,405, followed by the long side's large-scale attack.
Looking at the 4-hour chart, although the price of the currency slightly broke through the shock platform, the short side immediately pushed the price back to the platform. The moving average system (5, 10, 20) changed from a short arrangement to a sticking situation, but the MA60 is still sliding downward, indicating that the upper pressure is still heavy, and you should not be careless to buy the bottom.
Looking at the 1-hour chart, after the second large-scale attack by the bulls, the trading volume shrank extremely, and the MACD indicator showed a top divergence, indicating that the market's bullish momentum is still insufficient. However, the MA60 at this level has risen, which has a certain supporting effect on the currency price.
Overall, the weak market trend has not changed, the upper pressure is heavy, and the possibility of a sharp rise in the short term is low. In the short term, the focus can be on the support level of 16,000. If the price breaks through this support level, the adjustment trend will continue. At present, it is not recommended to buy the bottom with heavy positions. It is still mainly light positions and caution is the best.

2. Newcomer Index <br/>The figure below shows the daily newcomer index.