Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-10-18)

Trading on the exchange is sluggish and there are many new entrants off the exchange
1. Market Trends <br/>Today is October 18, 2016. The price of Bitcoin is 4330 yuan. Since the price of Bitcoin broke through 4150 and reached 4350 last week, it has been consolidating slightly, with small fluctuations and little room for operation. Since the rise to 4350, there have been six or seven small fluctuations to 4300, all of which were pulled back. There were also three or four times that it rose above 4350, but it did not stand firm, showing a box oscillation trend, oscillating back and forth between 4300 and 4350. The four-hour line and the six-hour line are both moving towards the death cross. In this case, pay attention to sudden market crashes. In a slow-rising market, be wary of rapid declines, keep enough funds, and wait for the right price to increase positions. The 4300 to 4500 line is still a relatively high pressure position in the Bitcoin market, and it may take time to consolidate.
Judging from the trading volume, the trading in the market has gradually become cold and less active in the past few days. Looking at the data, the data yesterday and the next day were bearish, and this morning it turned slightly bullish. The newcomer index has hit a new high in the past two days, which is conducive to accumulating momentum to some extent. According to the newcomer index, the suggestion is to buy on dips in the medium term. 2. The long-short index looks at the recognition of the value of Bitcoin outside the market <br/>The figure shows the long-short index with a period of 4 hours.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.