Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-16)

The volatility is narrow and the wait-and-see sentiment is rising
1. Market Trends <br/>Today is December 16, 2016. The current price of Bitcoin is 5,450 yuan. Yesterday, the price fluctuated in a narrow range, steadily moving upward, and closed with a small positive line. When the market opened yesterday, the price was supported by the 1-hour 60-period moving average. Soon, the price went up, but was suppressed by the 1-hour 30-day moving average, and then went sideways. At 2 p.m., the price rose again, breaking through the 1-hour 30-day moving average in one fell swoop. After that, the moving averages of each period completed the adjustment, showing a bullish trend, and the price fluctuated upward.
Recently, the daily K-line entity of the currency price has a tendency to become smaller, the trading volume has decreased successively, the market transactions are not active, the market wait-and-see sentiment is serious, and the intention is to wait for the trend to become clear before opening a position. Looking at the daily line, yesterday's currency price was suppressed by the recent flat top pressure level and could not impact the upper track of the Bollinger band, and it remained between the upper track and the middle track. The upper track of the Bollinger band is near 5550, and the middle track is near 5300, which is also an important pressure and support level in the near future.
At present, the daily chart K-line is running straight and has broken through the pressure line of the ascending triangle. It is unlikely that the price will rebound and break through this pressure line. The strength index and the stochastic index are both tightening in the hovering zone and moving eastward in parallel, indicating that the market is likely to go sideways in the near future. According to historical data, this phenomenon is often a preparation for the next trend, with a 50-50 chance of ups and downs. In this market atmosphere, it is not recommended to open a position.
In the hourly cycle charts, the average has completed the adjustment, showing a bullish trend again. The currency price is likely to fluctuate between 5500 and 5300 in the near future. Short-term traders should buy low and sell high while controlling their positions, but pay attention to follow-up after the breakthrough.
Judging from the relevant data of Coin Zone Trend today, the price trend index was basically the same yesterday, and the long and short distributions of various trading platforms this morning were slightly more bullish. The newcomer index remains unchanged, and the long and short index reflects that many people in the current market are still optimistic about the Bitcoin market. However, the overall price trend is still suppressed by factors such as the Spring Festival holiday and the entire K-line pattern. 2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" compiled by Coin Zone Trend based on statistics from domestic and foreign Bitcoin trading platforms. The purpose of the indicator is to analyze the long and short power distribution of the current market in order to better analyze and judge the price trend.