Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-03-22)

The rebound is temporarily blocked or will be sideways
1. Market Trends <br/>Today is March 22, 2017. The current price of Bitcoin is 7,400 yuan. When the market opened yesterday morning, the price of the currency continued the previous narrow range of fluctuations, with a series of small negative and positive lines. At 10 o'clock in the morning, the long side pulled up the price of the currency to get rid of the oscillation pattern, and once rose to the highest point of the day at 7,360.
Looking at the daily chart, the moving average system (5, 10, 20) is still in a downward hashing pattern. After yesterday's rise, the price of the currency is under pressure from the 20-day moving average. The area of ​​the red kinetic energy column of the MACD indicator continues to shrink, while the stochastic indicator and the strength index begin to extend to the overbought area, indicating that the bulls may continue to expand their gains, but face important pressure levels.
Looking at the 4-hour chart, the moving average system is in a multi-party arrangement, and the MACD indicator is still maintaining a strong operating trend, but the stochastic indicator and the strength index are dragging their feet when extending to the overbought zone, indicating that the bulls are hesitant to attack. The bears have been suppressing the price of the currency continuously and their energy is exhausted, making it easier for the bulls to recover their lost ground.
In general, the overall operation pattern of the coin price is still in the rebound channel. Through the trend analysis between the above levels, the coin price still has potential for upward adjustment, and is currently blocked by the 6-hour 30-cycle moving average. 7300~7400 points is an important pressure area. As the bulls continue to recover their lost ground, the profits of short-term follow-up disks are also increasing. Therefore, the bulls need to wash out some floating chips to reduce the pressure of climbing.

2. Newcomer Index
As shown in the figure, this is the 12-hour line newcomer index.