Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-02-09)

Recall strong rebound high oscillation consolidation
1. Market Trends <br/>Today is February 9, 2017. The current price of Bitcoin is 7490 yuan. Yesterday, the price of Bitcoin continued to rise in the morning, starting from the opening, until it hit a new intraday high of 7559 yuan at 3 pm. After that, the price of Bitcoin suddenly fell sharply, once reaching 6900 yuan, but only a few minutes later, it rebounded to more than 7100 yuan.
Looking at the 6-hour chart, the price of the currency suddenly fell and then rebounded quickly. The moving average system (5, 10, 20) still shows a long arrangement, but the golden cross of MACD and the energy of the long side are destroyed, showing a short trend again, indicating that the price of the currency at this level needs time to digest the impact of this decline. The stochastic indicator and the strength index still maintain a northward trend, indicating that the long side is still in a dominant position, and the rebound of the currency price may continue moderately.
Looking at the 2-hour chart, the moving average system (5, 10, 20) has been damaged and is in a state of adjustment. After the sudden drop, the price of this level of currency rebounded strongly and has recovered most of the lost ground, but in the short term, the price of currency will be suppressed by the big negative line. The area of ​​the MACD red column representing the strength of the short side continues to shrink, and the strength of the long side's counterattack continues to increase. The strong indicator enters the overbought area, indicating that the rebound trend of the currency price at this level will continue for some time. The best way to deal with unexpected events is to control the position and strictly set the stop loss and take profit points. It is recommended that the contract position be controlled within 3 times at any time.
From the data observation, after the coin price fell sharply yesterday, the long-short index turned from short to long, and the coin price rebounded strongly.

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.