Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-08-15)

Mid-term investors may enter the market in batches, but short-term investors should be cautious when going long
1. Market trend <br/>The current price of Bitcoin is 3810 yuan. At midnight, the price once dropped to the support level of 3770 yuan, indicating a very weak market trend. Last week, the price failed to stay around 3900, forming a situation of continuous decline for four weeks, and the market is not very optimistic. The daily line has already dropped below 3800 once. If it breaks below 3770 again, the market may further drop to the 3600 line. The two relatively large resistance positions above are the integer mark of 4000 and the sideways movement of 4300 for nearly a month. These two large resistance positions may take a relatively long time to digest. According to the data, below 3800, there are more people buying at the bottom in the market. The number of newcomers has been declining recently.
The abnormal movement of the coin price in June and August caused serious bleeding in the market. The coin price has been falling for four consecutive weeks. The short side will gradually release its power. At present, the main selling pressure may come from miners. Medium-term coin holders may buy in batches, buying some coins every few dozen yuan or every period of time, so that the price is more average. If it falls below 3700, medium-term coin holders should reconsider the situation of the entire market. 2. Long-short index to see the recognition of the value of Bitcoin by the OTC market <br/>The figure shows the long-short index at the hourly level.
3. The newcomer index looks at the relative amount of entry funds . The figure shows the newcomer index calculated on a daily basis.