Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-14)

The fierce competition between long and short positions will lead to selling pressure in the short term
1. Market trends

Today is December 14, 2016. The current price of Bitcoin is 5429 yuan. Yesterday, the market was fiercely competitive between long and short positions, and finally the two sides were evenly matched, and a high-foot cross star with a strong warning signal was formed. At 9 o'clock yesterday morning, the long side strongly pulled up about 100 points, and then the short side smashed about 200 points, and the price entered a sideways oscillation pattern.
Historically, there is a high-footed cross star before almost every decline in the price of the currency. This is a signal that needs special attention. This signal is not a force released to lure the enemy, but a game between the long and short sides to defend their own battlefield with strength. Carefully observing the price fluctuation trajectory, it is not difficult to find that yesterday's fierce confrontation was provoked by the long side.
As analyzed yesterday, the market is facing the recent flat top pressure (5450 yuan), and the bulls do not want to drag their feet, so as not to be noticed by investors and put pressure on themselves. Therefore, the bulls quickly launched an attack, but were immediately suppressed by the bears, indicating that there is a problem with the health of the market.
Now, after the coin price fell below the upward triangle support level and returned to the recent important support level of 5300, the subsequent rebound cannot break through the pressure line evolved from this support level, then the entire market will generally enter a state of adjustment.
Looking at the stochastic indicator and the RSI, both are moving southward, but have not reached the oversold zone, which means that the market is still facing selling pressure in the very short term.
It should be noted that in the Bitcoin market, whether the high-footed cross star is really effective, how effective it is, and what its impact on the medium and long term is, requires verification by the next 2 to 3 K-lines of the same trading unit time. The currency zone will track and analyze it, so please pay attention.
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.