Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-08)

If the price of the currency breaks through the triangle consolidation with large volume, then chase the long position
1. Market Trends <br/>Today is November 8, 2016. The current price of Bitcoin is 4770. Last week, after five consecutive positive lines, the weekly line closed with a negative line with upper and lower shadows. If the price of the currency is above 4700 this week, the weekly line will close with a positive line, which is expected to continue the previous upward trend. As a large-scale adjustment, the fluctuation last week is a large wash action. The weekly line is still running close to the upper track of the Bollinger Band.
From the daily chart, the price of the currency has been rising for four consecutive days after falling on November 4, rising a little every day, showing a relatively strong buying. The current price is just above the MA and EMA seven-week moving averages, and the price can go up or down. The four-hour line is shaped like an ascending triangle, and it is currently in a golden cross trend. If it can break through 4830 with large volume, it will have the opportunity to rush to the target of 5,000 yuan again. Aggressive mid-term investors can open positions in batches to go long, and conservative investors can wait and see for a larger direction. In the short term, the volatility has been good recently. Yesterday, the highest price reached 4840 and the lowest price reached 4730, with a price difference of nearly 100 yuan and a volatility of about 2%, which is very suitable for short-term buy low and sell high operations.
Looking at the data, the long-short index started to turn slightly bullish last night, and the newcomer index is still at a relatively high level. 2. The long-short index looks at the recognition of the value of Bitcoin by the OTC market <br/>The figure shows the long-short index with a period of 4 hours.
3. Newcomer Index to see the relative amount of entry funds <br/>The figure shows the Newcomer Index with a period of 4 hours.