Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-05-03)

The price of the currency hits a new high again, but please pay attention to the risk of falling back
1. Market Trends <br/>Today is May 3, 2017. The current price of Bitcoin is $1414.61. Yesterday morning, the price of Bitcoin fluctuated upward, but the increase was limited. In the afternoon, the price of Bitcoin accelerated its rise, reaching a high of $1458, breaking the historical record again.
Looking at the daily chart, the moving average system (5, 10, 20) still shows a bullish arrangement, and the MACD indicator is running in a strong area, indicating that the bottom support level is constantly rising. However, the market has formed a small positive line with long upper and lower shadows, indicating that the bulls have lost their overwhelming advantage, and the stochastic indicator has not reached a new high after the price reached a new high, and a divergence has occurred. It is expected that the currency price will need to fall back. These are all dangerous signals that require investors to pay close attention.
Looking at the 4-hour chart, the bullish arrangement of the moving average system is still intact, but the area of ​​the green column representing the strength of the bulls is gradually shrinking. The stochastic indicator and the strength index have quickly fallen back to the hovering zone, indicating that the exchange of profits by profit-taking has put a certain amount of pressure on the bulls.
Overall, the global currency price is still in the channel of super bull market, and the foreign currency price is about 1,000 yuan higher than the domestic price, which will provide domestic investors with a short reaction time before the big drop. After the currency price broke through the triangle pattern to create a new historical record, it is more likely to step back to the upper line of the triangle pattern. On the one hand, it is to wash out the chips with short-term exchange profit needs, and on the other hand, it is to shake out the floating chips with unsteady consciousness.

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.