Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-04-01)

Insufficient upward momentum, short-term defensive
1. Market Trends <br/>Today is April 1, 2017. The current price of Bitcoin is 6860 yuan. At the beginning of yesterday's opening, the price of the currency was in a fluctuating downward pattern, reaching a new intraday low of 6666 and then stabilized. After that, the market entered an upward pattern, and the final daily level K-line closed positive.
Looking at the 4-hour chart, the moving average system (5, 10, 20) is scattered, and the 60-day moving average is still sliding down. The MACD indicator runs along the zero axis, the stochastic indicator and the strength index slide in the hovering zone, and the market momentum shrinks. In addition, the K-line at this level is slightly in the shape of a teacup with a handle. If the volume breaks through the handle, you can participate with a light position.
Looking at the 1-hour chart, the market closed with a big negative line and the moving average system formed a dead cross. At the same time, the MACD indicator also formed a dead cross in the strong area. The bar chart returned to run below the zero axis again, indicating that the currency price at this level still has room for adjustment. As analyzed yesterday, after a big positive line broke through the moving average system to form a dragon out of the sea, the market outlook was bullish, but today a big negative line broke through the moving average system to form a guillotine, and the market outlook was bearish.
Generally speaking, the K-lines of the above two levels frequently show large positive and negative lines, and the long and short game is fierce, indicating that the market has not yet reached a consensus on the key support level. In addition, it is worth noting that there are signs of the bottom rising this time, and the leading position of the short side has been weakened. However, since the future trend is unclear, it is recommended to wait and see.

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.