Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-05-22)

The long-term and short-term game is becoming more intense, and the medium- and long-term upward trend remains unchanged
1. Market Trends <br/>Today is May 22, 2017. The current price of Bitcoin is $2092.02. Yesterday, the price of the currency rose at the opening and broke through the $2000 price for the first time, with the highest point of the day reaching $2159.35. After that, the price of the currency fell into a box consolidation range. The short side broke the whole range at 19:00 trading session, and the lowest price reached $1900. However, the long side quickly regained the lost ground, and the price of the currency returned to the consolidation range.
Looking at the daily chart, the bullish arrangement of the moving average system (5, 10, 20) remains intact. The MACD indicator continues to stretch northward after forming a golden cross in the strong area, and the MACD indicator did not show a top divergence when the currency price hit a new high, indicating that the bullish momentum remains intact. However, the more sensitive stochastic indicator and the strength index show a top divergence. The chart at this level is higher than a cross star with a long shadow line, and there may be a certain degree of adjustment in the short term.
Looking at the 4-hour chart, the bullish pattern of the moving average system has not been destroyed, and the MACD indicator shows signs of refusing to cross in the strong area and stretching southward, and the overall bullish pattern at this level has not changed. In addition, the stochastic indicator and the strength index remain intact to the north, and the bulls almost wiped out the previous decline with a big positive line, indicating that the buying momentum is still relatively strong.
Overall, the medium- and long-term upward trend of the currency price remains intact, and it can continue to be bullish. However, the possibility of wide fluctuations in the short term is increasing. The operation strategy is the same as analyzed last Friday, mainly buying on dips. If the currency price effectively breaks through the resistance zone of 2110~2160 US dollars (as shown in the figure), short-term investors can increase their positions appropriately, but the stop loss should be strictly controlled.
2. Newcomer Index <br/>The figure below shows the daily newcomer index.