Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-11-02)

It takes time to digest the profit taking and the market may need to be sorted out
1. Market Trends <br/>Today is November 2, 2016. The current price of Bitcoin is 5000. When Bitcoin was around 4880 yesterday, our analysis suggested a bet on an increase. In the afternoon, the price rose to over 5000 yuan, and once rose to over 5050. There were two waves of price drops in the morning, which were quickly rebounded.
From a weekly perspective, it has been rising for six consecutive weeks, starting from around 4,000 yuan, with an average weekly increase of about 4%. The last wave rose from 3,000 to 5,000 in four weeks, with an average weekly increase of about 15%. At present, the weekly K-line slightly breaks through the upper track of the Bollinger Band, and the middle track is still around 4,200. From the perspective of trading volume, the trading volume of domestic platforms has increased a lot, but the trading volume of foreign platforms has not increased much. In addition, foreign platforms have a negative premium of about US$15, with domestic platforms at 5,000 yuan and many foreign platforms still around 4,900 yuan. The profit-taking since 4,000 may also take some time to digest. 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.
Looking at the data, the 6-hour long-short index shows that the current market is slightly biased towards the short side, and the number of newcomers entering the market remains at a high level. 2. The long-short index looks at the recognition of the value of Bitcoin by the outside world <br/>The figure is the long-short index with a period of 6 hours. 3. The newcomer index looks at the relative amount of funds entering the market <br/>The figure is the newcomer index with a period of 24 hours.