Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-01-05)

The historical high has been broken and the market sentiment is high
1. Market Trends <br/>Today is January 5, 2017. The current price of Bitcoin is 8,550 yuan. Yesterday morning, the price of the currency rushed up unstoppably, reaching the intraday high of 7,988 yuan at 10 pm, and then dropped by about 200 points. However, after the opening of the market this morning, the price of the currency continued to rise, reaching a record high of more than 8,600 yuan, and the 24-hour increase exceeded 10%, showing signs of accelerating to the top.
In the 6-hour chart, the moving average system (5, 10, 20) and MACD are still in a bullish arrangement, and the area of ​​the green column representing the bullish energy is still increasing. However, since the price of the currency at this level is far away from the moving average system and the stochastic indicator has diverged, it means that there is a need for adjustment at this level in the short term.
1-hour chart, as analyzed yesterday, due to the relatively perfect price trend and MACD and other indicators, the price of this level will rise further. Later, the price of the currency soared to a new high to verify this prediction. At present, the price of the currency is hanging above MA5, the relative strength index and the stochastic index show signs of going south, and the area of ​​the green column of MACD is shrinking. It is expected that the price of the currency at this level may decline in the short term. The support line is MA10, which is around 8400, but the possibility of a sharp decline is small.
The price of the currency hit a record high, and faced with the pressure of 7,000 yuan and 8,000 yuan, it was often taken down in one fell swoop. At present, the market has no historical anchor price, and only the pressure of hundreds and thousands is left. Therefore, the market is relatively excited recently. For investors, facing such a market situation, they must strictly implement risk management measures, strengthen position management, and not relax due to the excitement of the market.
From the data, the recent sharp rise in Bitcoin has attracted a lot of media coverage. As we showed yesterday, the number of new investors in the past few days is several times higher than before, and it is the new funds that have pushed up the price of the currency. However, we know that the funds within a certain time and space will always run out. When the number of new investors decreases significantly, it is often the time when the price of the currency begins to turn around. In addition, we have noticed that the price difference between domestic and foreign Bitcoin prices has reached an astonishing $100.

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.