Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-02-28)

The price of the currency gradually recovers the lost ground and many parties are looking for an opportunity to break through
1. Market Trends <br/>Today is February 28, 2017. The current price of Bitcoin is 8050 yuan. Yesterday morning, the price of the currency fluctuated and climbed, reaching an intraday high of 7996 yuan at 12 noon, and then fell slightly, and finally the market closed with a small real positive line.
Looking at the daily chart, the moving average system (5, 10, 20) is still in a strong bullish arrangement, pushing the price up. The stochastic indicator and the RSI are radiating northward and entering the overbought zone again, indicating that the bulls are controlling the market trend. After a moderate decline on February 5, the price of the currency gradually rebounded and has completely recovered the lost ground so far, and the bullish momentum is still strong.
Looking at the 4th picture, the price of the currency is restricted by the upper track of the Bollinger Band when it hits it, and it is possible to successfully break through. The MACD indicator shows signs of a golden cross, and the energy column returns to the zero axis again, indicating that the price behavior at this level is becoming stronger. The stochastic indicator and the strength index both extend from the hovering area to the overbought area, indicating that the bulls at this level have gained the market initiative, but it is necessary to pay attention to the short side's test, which once fell.
Overall, since January 5, the price of the currency has shown a teacup shape with a handle, but it should also be noted that the two rebounds are slightly V-shaped, indicating that the bulls have not completely scared off or dragged down the remaining weak-willed investors, increasing the pressure faced by subsequent increases. Despite this, the price of the currency is still in a strong upward channel, but there are dangers on the way up, and investors need to pay special attention.
In the past week, there are many new entrants, which indicates that the support below is relatively strong. If the price falls back, you can enter the market to buy at the bottom, and even if you are trapped, you can quickly get out of the trap. For the short side, the previous high will be a good position. If it fails to break through the previous high, the 12-hour line will likely form a double top trend, and the short side will gradually gain the initiative.

2. Newcomer Index <br/>The figure below shows the Newcomer Index of the daily line.