Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-09-08)

The short-term direction is unclear, wait patiently for a breakthrough
1. Market trend <br/>The current price of Bitcoin is 4,100 yuan. In the past few days, it has returned to a sideways oscillation trend. Yesterday, the lowest price was 4,050 and the highest price was 4,110. The market fluctuated freely. From a technical point of view, the upper pressure is mainly concentrated in the 4,300 to 4,500 line. The sideways movement around 3,800 for a month has formed a relatively good mid-line support. From a larger range, the price may oscillate in the range of 3,900 to 4,300, gradually digesting the upper locked-in orders and the negative impact of Bitfinex in this range. Whether the price goes up or down, more news is needed. There is no news to hype at present.
From the data, the long-short index is relatively bullish, and the newcomer index has bottomed out and is relatively stable. Every day, there is capital entering the market to take over the selling pressure of mining. It is unlikely to rise sharply in the short term, but it is a good opportunity to intervene in the medium term. September and October are the golden months, and October or November may usher in another wave of impressive market conditions. In the short term, volatility will gradually improve, and it is a good time to buy low and sell high.
2. The long-short index shows the off-market recognition of the value of Bitcoin <br/>The chart shows the hourly long-short index.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.