Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-04)

The regulatory news fermented and the weekly line was under pressure and consolidated
1. Market Trends <br/>Today is November 4, 2016. The current price of Bitcoin is 4750. If the price of Bitcoin rises too much, it will fall; if it falls too much, it will rise. This is an eternal truth. Since the price of Bitcoin was around 3950 at the end of September, our daily analysis articles have been biased towards bullishness. After a month of bullishness, the price of Bitcoin has been rising steadily as expected. The day before yesterday, we began to warn of risks. The title of the analysis article was directly "The market may need to be sorted out as it takes time to digest the profit-taking positions", pointing out that "the profit-taking positions since 4000 may also take some time to digest, and it is not advisable to continue to go long in the medium term for the time being, and wait and see is the main approach". Yesterday, the price of Bitcoin once reached 5100, but our analysis article pointed out that "the market uncertainty is relatively large, and it is still necessary to be cautious in going long in the short and medium term at the current price, and adopt quick in and out operations". As a result, a news came out in the afternoon: "People familiar with the matter said that China is studying measures to restrict transactions that circumvent foreign exchange management through Bitcoin (Bloomberg)".
Regardless of whether the news is true or false, when the news began to spread through various channels and continued to ferment, the price of the currency immediately began to fall from the high point of around 5130. This is completely different from the previous bear market, where it took two or three days for a piece of news to be reflected, which indirectly proves the current activity of the Bitcoin investment market.
The daily K-line is still suppressed by the upper track of the Bollinger Bands, and the largest drop is near the middle track of the Bollinger Bands at 4,500 points. The weekly K-line is suppressed by the upper track of the Bollinger Bands and is currently consolidating in the middle of the track. Looking at the weekly K-line, the weekly line may form a large double top trend, but there are many newcomers in the early stage. At present, the possibility of forming a large double top is not too great, and it may form a consolidation trend. Aggressive mid-term investors can build long positions in batches, and conservative investors can wait and see for the time being.
Looking at the data, the market long-short index began to be bearish around 5100, and today's data remains to be seen. 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 24 hours.