Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-09-22)

The bullish momentum is still insufficient and the entry funds have rebounded
1. Market trend <br/>The current Bitcoin price is 3980 yuan, still with small sideways fluctuations. The market panic caused by the decline yesterday morning may have been eliminated. The upper resistance is around 4000, but it has been pressed down at 3990, indicating that the market's long-term momentum is still not strong. The daily K-line must be above 4000 to reverse the downward trend, otherwise it is still biased towards the short side from a technical point of view.
Yesterday I saw a piece of data. More than 20 years ago, 30,000 yuan could buy a house in Shanghai, but now you can't even buy one square meter. More than 20 years ago, the average salary in Guangzhou was 600 yuan, and now the average salary in Guangzhou is 6,000 yuan, but people still feel that their salary is not enough. We should think more about why this is the case? Perhaps compared with various fiat currencies, Bitcoin is still a good choice for safe-haven assets.
From the data, there were more bearish yesterday and more bullish last night, but the data was not very obvious. Yesterday, the Newcomer Index had risen above 70, indicating that some off-market funds did enter the market. It is difficult to judge the short-term price, but the mid-term is still a good opportunity to enter the market. The mid-term strategy is still to buy on dips, and you can also try to place orders around 3900. If it falls below 3800, you should consider stop loss. 2. The long-short index looks at the recognition of the value of Bitcoin by the off-market <br/>The figure is the long-short index per hour. 3. The newcomer index looks at the relative amount of funds entering the market <br/>The figure is the newcomer index calculated on a daily basis.