Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-12-13)

Flat top pressure is still fluctuating, so be cautious when building positions
1. Market Trends <br/>Today is December 13, 2016. The current price of Bitcoin is 5463 yuan. Yesterday, the price of the currency went out of the middle Yin line. After the start of the morning session, it was in a steady upward trend until it reached the recent flat top pressure level at 19:00, and then entered a shock pattern.
Looking at the daily chart, the market has formed three flat tops since November 2. Although each one is higher than the other, the gap between them is gradually narrowing, indicating that the upward momentum is shrinking. Combining the stochastic indicator and the strength index, there is an obvious divergence. In the 6-hour chart and the 12-hour chart, the price of the currency is still some distance away from the 7-day MA, providing some space for sideways trading.
From the Bollinger Bands, the daily line is still moving upward, but the remaining space is not large, and in the hourly chart, the price of the currency has left the upper track and turned downward. It is important to note that in the face of important pressure levels, if the breakthrough is slow, it means that the bulls are weak and the market health is in trouble.
Since August this year, the bottom of each price drop has been rising, and the peak has been moving upward step by step, and now the distance between the two is shrinking. If the price of the currency effectively breaks through the flat top next, the market will have another situation. If it fails to break through and enters a shock pattern, you need to be cautious when opening a position.
(Bitcoin price daily chart) 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.