Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-08-31)

The price of the currency has passed the golden cross for three consecutive small positive lines
1. Market Trends <br/>The current price of Bitcoin is 3875 yuan, and yesterday the price once rose to around 3890. The daily line has reached the end of the triangle oscillation and has passed the golden cross, but as expected, due to the inactive market, there is no big pull-up and no large trading volume. If the price can close above 3860 today, the daily line will form four small positive lines, which is a relatively bullish signal, indicating that market confidence is recovering. The market is still waiting for more energy to accumulate, waiting for the volatility to slowly become larger to attract more people to participate.
From the data, when the market was sideways at around 3800 in the past month, people in the market were basically bullish. If there is no major negative news, there is no need to worry about the market falling sharply. Even if it falls, there will be strength to rebound. The current problem is that there are not enough new entrants, and off-site funds need to be replenished. The number of new entrants is basically consistent with the selling pressure of miners. The price is in a balanced state. Small fluctuations belong to the game of funds in the market. The market needs more time to recover. Wait for the mid-line to fall below 3750 or rise above 3900 before operating. There are three operations in trading: long, short, and wait. Most of the time is waiting.
2. The long-short index shows the off-market recognition of the value of Bitcoin <br/>The figure shows the long-short index at the hourly level.
3. The newcomer index looks at the relative amount of entry funds <br/>The figure shows the newcomer index calculated on a daily basis.