Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-09-05)

The price of the currency has fallen strongly again. Obvious signals are needed to buy the bottom
1. Market Trends <br/>Today is September 5, 2017. The current price of Bitcoin is 25,200 yuan. The price of Bitcoin continued to fall sharply yesterday. As the analysis of the currency zone yesterday, the time to buy the bottom is still immature.
Compared with the top reversal, the price reversal at the bottom often takes more time and the process is usually more tortuous. Among all the investors who can end well, all of them follow the trend and are friends of the trend. Therefore, at any time, bottom fishing requires the trading system to send a clear signal.
Looking at the 1-hour chart, the price of the currency is clearly in a downward channel, and has touched the lower support line of the channel as of press time. In principle, when the price is in a downward channel, shorting will be done at the upper resistance line, and longing will rarely be done at the lower support line. After shorting at the resistance line, if the price breaks through the resistance line and the correction confirms that the breakthrough is effective, then stop loss and exit.
In this way, if you want to buy at the bottom and gain swing profits, you can wait until the price breaks through the upper resistance line and then confirms it after a pullback before entering the market with a light position. The stop-profit range is recommended to be equal to the vertical range of the pipeline.
The market panic caused by ICO's regulatory policies has affected the price of Bitcoin to a certain extent. We should pay close attention to policy developments.
After Ethereum was recommended to clear its positions yesterday, it continued to try to adjust. It is recommended not to participate in the small rebound after the big drop. The operation idea is the same as the above analysis of Bitcoin. Do not enter the market before a clear stop-loss signal appears.
2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" compiled by Coinzone 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.