Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-09-01)

Domestic currency prices are under pressure, pay attention to foreign market trends
1. Market Trends <br/>Today is September 1, 2017. The current price of Bitcoin is 29,900 yuan. Recently, while the foreign exchange prices have broken through 30,000 yuan, the domestic exchange prices are generally below 30,000 yuan. So far, the domestic exchange prices have been hovering below 30,000 yuan for two trading days, and there is no sign of a breakthrough.
Looking at the 1-hour chart, the price of the currency hit above 30,000 last night and was then pushed down by the bears, which is similar to the situation at noon the day before yesterday. Although the high resistance cannot be broken for the time being, the bottom of the callback is still rising, thus forming an ascending triangle pattern.
However, the current foreign currency prices generally fluctuate above 31,000, and the trend in the 1-hour chart is still in a bullish pattern, rather than an adjustment and oscillation pattern similar to the domestic market.
Although the domestic currency price has been under pressure, from a global perspective, Bitcoin is still in a bull market. Investors operating in the domestic market can buy on dips and wait for the domestic currency price to "liberate". However, if the foreign market falls sharply, it is best to reduce positions appropriately.
Ethereum's price continued to climb yesterday, and the 4-hour chart showed stagflation again. Although the price will have a small correction, it is just a correction on the way to the rising channel. Investors who hold positions can still let profits run, but they need to be cautious when adding positions to chase high prices.
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.