Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-08-31)

The battle is not over yet, wait patiently for the opportunity
1. Market Trends <br/>Today is August 31, 2017. The current price of Bitcoin is 29,300 yuan. Yesterday, the price briefly broke through the 30,000 mark, but fell back after encountering a large supply. At present, the price of Bitcoin is still hovering below 30,000. The price trend is like sailing against the current. If you don't advance, you will retreat. All the sideways fluctuations are preparations for the next wave of market conditions.
From the daily chart, as of press time, the right peak and the left peak are almost at the same price level, and the trading volume of the right peak is obviously lower than that of the left peak, and the double top pressure still exists. From the 4-hour chart, the price of the currency shows a downward trend, indicating that the upward trend still exists.
How to operate when a double top is being constructed has been mentioned in the analysis of the currency zone a few days ago. The process of investment is the process of managing risks, pursuing maximum profits under the premise of minimizing risks.
Therefore, it is recommended to enter the market in a big way after the price breaks through 30,000 and falls back, or to try to enter the market when the price breaks through 30,000 with a large volume of positive lines. Aggressive investors can try to enter the market now, but they must control their positions and stop losses. After all, the market is unpredictable and any possibility will become a reality.

The price of Ethereum is still sliding upward, and there is a high stagnation in the 4-hour chart, but this is just a correction phenomenon in the upward trend. It is expected that the price will adjust, but it does not mean that the trend is about to reverse. The operation strategy is the same as yesterday; the part sold does not need to chase the high, and the part held continues to let the profit run, and the mid-way correction can be ignored.

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.