Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-24)

The pace of the upward attack has slowed down, but the bulls are still confident
1. Market Trends <br/>Today is April 24, 2017. The current price of Bitcoin is $1182.35. Yesterday, the overall price of Bitcoin showed a volatile downward trend. At the beginning of the opening and in the afternoon, the bulls tried to push up the price, but were suppressed by the bears and all failed.
Looking at the daily chart, the moving average system (5, 10, 20) shows a bullish arrangement, but MA10 and 20 lack coordination. The MACD indicator is still running in the strong area, but the green column representing the strength of the bulls is shrinking. These signs show that the market still has a large disagreement on raising the price of the currency. In addition, the stochastic indicator and the strength index have both retreated from the strong area to the hovering area, and the supply of profit-taking is still strong.
Looking at the 4-hour chart, the moving average system shows a short position arrangement, and the price of the currency is in a short-term downward channel. The MACD indicator is still running in a strong area, and the red column representing the strength of the short side is shrinking. At the same time, the strength index and the stochastic indicator are stretching towards the overbought area, and the bulls may regain the market dominance at any time.
In general, after a continuous rebound, the main theme of the market last week was adjustment and consolidation. In addition, it is normal for the market to have a small correction after closing with a big positive line. At present, there is no decisive factor that the rebound trend has undergone a fundamental change. Therefore, the bullish foundation is still relatively solid. However, the pressure of the historical high point cannot be ignored or underestimated.

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