Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2016-05-4)

Stand firm at 2850 and hit 3000?

1. Price trend <br/>The price has been above the long-short dividing line of 2850 for a few days, and the overall trend is bullish. In the past two or three months, Bitcoin has been rising slowly and falling quickly. I have been looking forward to a strong pull to 3000, above 3100, and then to a correction to 3000 to stabilize, but it has not been achieved. It has been rising to 3000 many times, but it has been rising slowly, and around 3000, it was cashed out by big investors and dumped. Investors who hold coins should have more patience. You can add positions on dips in the medium term, and short-term shorting should avoid these two days. Support 2860, 2880, upper resistance 2940, 2970.
2. The newcomer index level may remain high for one or two days <br/>As expected, the newcomer level yesterday remained high all day. Compared with historical data, yesterday's newcomer level was the highest point this year, two or three times the average, and may last for one or two days. After CCTV2 Economic Channel broadcast the news of "The suspected appearance of Bitcoin founder Satoshi Nakamoto" last night, the hourly newcomer level immediately had a small peak. When the price pierced 2800 a few days ago, the data also showed that many people entered the market to buy at the bottom.

3. The strength of the bearish side of the long-short index has weakened <br/>During the entire May Day holiday, the long-short index tended to be bullish. However, on May 2, the price fell due to the news. As shown in the figure, the long-short index at the hourly level, with bearish and bullish trends appearing alternately.

The chart is updated in real time as of 09:30 on May 4. We will continue to observe how the data will develop in the future.