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

The price of the currency continues to rise and needs to accumulate strength to break through again
1. Market Trends <br/>Today is March 3, 2017. The current price of Bitcoin is 8,150 yuan. Yesterday, the price of the currency rose slightly at the opening, but soon entered a trend of oscillating downward adjustment. It was not until 4 pm that it stopped oscillating and rose, recovering the lost ground. Therefore, the price of the currency in the domestic market closed with a short real positive line yesterday. At the same time, after yesterday's rise in the foreign market, the price of one Bitcoin has exceeded the price of one ounce of gold. Therefore, the pressure to raise the price of the currency has increased again.
Looking at the K-line chart, the moving average system (5, 10, 20) is still in a strong bullish arrangement, and the lowest support level is still rising. The rebound of the currency price at this level since the 26th has been moving towards the upper track of the Bollinger Band with a smaller body K-line, but it has not touched the upper track of the Bollinger Band, indicating that the currency price at this level still has room to rise. At the same time, the currency price continues to rise to a new high, but the stochastic index and the strength index have not reached a new high, and there is an obvious divergence phenomenon. The bulls need to consolidate to release risks.
Looking at the 4-hour chart, the moving average system is still in a strong bullish arrangement, the MACD indicator is running in a strong area above the zero axis, and the stochastic indicator and the strength index are diverging to the north. Therefore, the price of the currency at this level still has room to go up. In addition, the price of the currency at this level has broken through the upward triangle pattern, and it is normal for the market to step back to confirm the validity of the signal. Therefore, investors need to pay special attention.
In general, as the foreign currency price exceeds the gold price, the pressure from the bulls has also increased, and it is necessary to seesaw to wash out the unsteady profit-taking, so as to make further breakthroughs. From a global perspective, the currency price is still in an upward channel, and the basic trend has not changed fundamentally. Therefore, investors should buy on dips and do not recommend shorting on rallies.
From the data observation, after the price of the currency rose further yesterday, the trend indicator began to lean towards the short side, the market shorting was relatively strong, and the long-short index was also relatively bearish. It is lonely at the top, and the market needs more time to adapt to the current currency price. Pay more attention to relevant news information.

2. Long/Short Index
As shown in the figure, this is the long and short index of the daily line.