Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-05-12)

Uptrend continues with short-term momentum weakening
1. Market Trends <br/>Today is May 12, 2017. The current price of Bitcoin is 1744.14 USD. After the opening yesterday, the price of Bitcoin fell into a downward adjustment pattern, reaching a new intraday low of 1625.5. At noon, the price of Bitcoin was effectively supported by the hourly chart MA60, and then stopped falling and rose, erasing the decline in the early trading.
Looking at the daily chart, the moving average system (5, 10, 20) shows a bullish arrangement, and the MACD indicator is running in a strong area, indicating that the bottom support level is constantly rising. As analyzed yesterday, the market has a need for adjustment in the short term, and the price climbed up after touching MA5 downward, causing the stochastic indicator and the strength index to continue to be blunt in the oversold area.
Looking at the 4-hour chart, the moving average system shows a bullish arrangement again, but when the price of the currency hits a new high, the green color of the MACD indicator is obviously not enlarged, and the top divergence phenomenon is very obvious. In addition, the price of the currency at this level is in a state of stagflation at a high level. These signs predict that the price will fall in the short term.
In general, the main upward trend of the currency price still shows no signs of ending. Investors above the daily level can still hold positions and wait and see, but ultra-short-term investors should lock in profits to avoid losses. In the short term, investors can pay attention to the daily chart MA5 or the 4-hour chart Bollinger band middle track support level, and can enter the market with small positions when the market is low.
2. Newcomer Index <br/>The figure shows the 12-hour newcomer index