Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-27)

The price of the currency has entered a period of volatility. Beware of short-term selling pressure
1. Market Trends <br/>Today is December 27, 2016. The current price of Bitcoin is 6477 yuan. The price had been rising steadily before 9 o'clock yesterday, and was only 50 points away from a new high, but this rebound trend did not continue. After 9 o'clock, it entered a weak and volatile pattern, but did not lose the gains in the morning. After the price stopped falling and stabilized at 8 o'clock last night, it rebounded again. Therefore, a positive line with an increase of about 3% was closed.
In the 12-hour chart, the moving average system (5, 10, 20) has a tendency to stick together, and the currency price is likely to enter a volatile trend. The area of ​​the green column representing the strength of the bulls is shrinking, indicating that the internal driving force for the rise is insufficient, and the positive and negative difference DIF of MACD at this level has been taking the extreme value of the overbought zone since the currency price broke through the new high, so we should be alert to the risk of short-term selling.
In addition, a cross star appears on the 12-hour K-line, which is between the middle and upper tracks of the Bollinger Bands, and the RSI and KDJ are heading towards the oversold zone. Therefore, it is likely that the bears once had the upper hand.
In the 4-hour chart, the market shows a double-shoulder pattern, and MACD shows a lack of upward momentum. The Bollinger Bands at this level have begun to narrow, and the price of the currency is running above the middle track. Therefore, the price of the currency will fluctuate or even decline in the short term, and investors need to be vigilant about this and lock in the profits that have been obtained.
Judging from the newcomer index of the currency zone, the beginning of October 2016 was a dividing line. After the National Day in October, the number of newcomers entering the market every day was two to three times that of the previous period. Since the price of the currency rose to 6,000, the number of newcomers entering the market every day has increased again. The long-short index shows that when the price fell back to around 6,300, many people entered the market to buy the bottom, but when the price reached a relatively high position, everyone tended to be bearish. In the game of long and short forces, those who do short-term high-selling and low-buying should make a lot of profit.

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.