Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-05)

The bullish outlook is positive
1. Market Trends <br/>Today is April 5, 2017. The current price of Bitcoin is 7,000 yuan. After the opening yesterday, the price fluctuated upward, but soon fell back and entered a horizontal fluctuation. At 15:00 in the afternoon, the bulls pulled up strongly, breaking through the box shape in the 1-hour cycle chart, and once climbed to 7,316.6 yuan. After that, the price of the currency fell sharply and finally closed near the opening price, so the daily K-line closed with a cross star with a long upper shadow.
Looking at the 4-hour chart, the moving average system (5, 10, 20) has entered a sticking state from a long arrangement pattern, the MACD indicator is moving eastward in a smooth trend, and the red bar chart shows that the short energy is relatively weak. Overall, the stochastic indicator and the strength index have been running in the hovering zone for many days, and the next wave of market may be brewing.
Looking at the 1-hour chart, the moving average system is in a tangled pattern, the MACD indicator is still running in a strong area, and the area of ​​the red bar chart representing the strength of the bears is shrinking, indicating that the bears are not in a dominant position. In this level chart, first a shooting star with a very long upper shadow appears, and then a cross with a very long lower shadow appears, showing that the bulls are strongly washing out.
Looking at the global market, the price of foreign currencies rebounded strongly, showing a slightly deep V pattern, just one step away from 8,000 points, while the domestic market generally showed a sideways trend. Judging from the price trends of major Bitcoin markets earlier this year, the sharp rise in foreign currency prices will drive the rise of domestic currency prices to a certain extent. For domestic spot investors, it is recommended to hold coins for a long time and reduce swing trading, while contract investors should strictly set stop loss and stop profit, and reduce positions to deal with potential unrecognized risks.

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.