Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-10-28)

The direction of consolidation around 4700 needs to be clarified
1. Market Trends <br/>Today is October 28, 2016. The current coin price is 4720 yuan. Yesterday, the coin price fell from 4720 to around 4650, and then fell below the 30-period EMA and went sideways. At 2 a.m., the coin price was pulled up again. The current coin price is suppressed by the upper track of the 1-hour Bollinger band in the short term.
The daily line has been close to the upper track of the Bollinger Band, showing a slight breakthrough, but is still suppressed by the upper track of the Bollinger Band. The currency zone has made a comparison with various platforms at home and abroad, and found that in the past two days, the trading volume of almost all platforms has reached the highest point in the past six months, and the weekly trading volume in recent weeks has also increased significantly.
This rise started from the sideways trading at 3800 in early September and has lasted for nearly two months. In the past three weeks, the average weekly increase was 4%, with a cumulative increase of RMB 500, or about 15%. The upper track position of the weekly Bollinger Bands is at 4800, and it is expected to rise further. The range of 4500 to 4800 may take time to consolidate to further determine the larger trend. Those who are long in the medium term may take part of the profit and wait and see, and pay attention to the risks in the short term. It is recommended to hold more coins and do less short-term trading.
Looking at the data, the long-short index turned slightly bearish this morning, but there were more new entrants this morning than in the previous few days. 2. The long-short index looks at the recognition of the value of Bitcoin by the outside world <br/>The chart shows the long-short index with a period of 1 hour.
3. Newcomer Index to see the relative amount of entry funds <br/>The figure shows the Newcomer Index with a period of 1 hour.