Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-09-07)

The rebound is close to more than 30,000 square meters, and the attack is repaired again
1. Market Trends <br/>Today is September 7, 2017. The current price of Bitcoin is 29,000 yuan. Yesterday, Bitcoin continued to rebound, approaching 30,000 points. This is the deep V rebound technique of the Bitcoin market. If you grasp it properly, you will earn considerable profits.
Yesterday's analysis pointed out that when the price hits the lower support line of the 1-hour chart's rising channel, it is appropriate to increase the position. However, judging from the trend last night, stagflation appeared at the top of the 1-hour chart, and the MACD and other indicators diverged significantly. After all, there has been a rebound of nearly 7,000 points before, which means that the bullish rebound trend will soon be adjusted. The first support area below is 27,500~28,000.
Although the rebound trend is strong, in the Bitcoin market, the deep rebound after a sharp drop rarely breaks through the previous high all the way, and most of them will enter the correction stage below the previous high or after a false breakthrough. In the 1-hour chart, it can be seen that the large corrections in May, July and August this year are all like this. However, this does not mean that the trend will reverse, it is only a temporary adjustment of the trend.
Judging from the daily chart, before the rebound breaks through 32,000, it cannot be said that the price has released all the high pressure and entered a new round of bull market.
In the history of Ethereum, although the fluctuation of Ethereum price is rarely synchronized with Bitcoin, or even almost not at all. However, due to the current regulatory storm, the two have become brothers in distress, resulting in the shocking similarity in the magnitude and time of the rebound. Therefore, Ethereum is also in the process of correction, with the support level below being around 1950.

2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" compiled by the currency zone based on statistics from domestic and foreign Bitcoin trading platforms. The purpose of the indicator is to analyze the distribution of long and short forces in the current market in order to better analyze and judge price trends.