Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-05-10)

The market may not have risen wildly, and the pattern has not changed
1. Market Trends <br/>Today is May 10, 2017. The current price of Bitcoin is $1679.24. At the beginning of yesterday's opening, the price of the currency showed a strong upward trend, and only after soaring to $100 did it fall back slightly. After two consecutive trading days of large positive lines, some indicators have different opinions on the future market trend, which deserves investors' attention.
Looking at the daily chart, the moving average system (5, 10, 20) still shows a bullish arrangement, which helps the price of the currency to climb upward. At the same time, the green column of the MACD indicator is still showing an enlarged trend, and there is no top divergence phenomenon, indicating that the price of the currency at this level is rising strongly. However, while the price of the currency has reached a new high, the stochastic indicator has not reached a new high, showing an obvious divergence phenomenon.
Looking at the 4-hour chart, the bullish pattern of the moving average system remains intact, and the MACD indicator has not shown a top divergence, indicating that the price of the currency at this level still has room to rise. However, the stochastic indicator and the strength index at this level have both shown a top divergence, and there is still a need for adjustment during the day, and the possibility of a further rise is small.
Overall, the price of Bitcoin on major exchanges has broken through historical highs recently, and the basic bullish thinking has not changed. However, due to bearish signals in some sensitive indicators, short-term sideways fluctuations may be inevitable, and investors need to be vigilant. Investors with heavy positions can lock in some profits, while investors with short positions should not intervene with heavy positions to chase the rise, and should look for intervention in the market during the adjustment period.
2. Newcomer Index <br/>The figure shows the 12-hour newcomer index