Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-08-18)

The 30,000 mark has been broken, mainly short-term risk aversion
1. Market Trends <br/>Today is August 18, 2017. The current price of Bitcoin is 29,000 yuan. Yesterday afternoon, the price of Bitcoin continued to rise, breaking through the 30,000 mark, setting a new record high. Since 30,000 is a very important price, short-term investors can appropriately avoid risks and wait for the multi-party effective breakthrough before entering the market.
In the 1-hour chart, when the Bitcoin price broke through the 30,000 mark, the MACD indicator showed an obvious top divergence. In addition, in the 4-hour chart, the MACD indicator refused to form a golden cross above the zero axis, which is a signal that the price will fall back in the short term.
In addition, short-term positions can continue to be held before the Bitcoin price effectively breaks through the trend line shown in the figure. However, for conservative investors, profits can be locked when the price of the currency rises. At the same time, after the Bitcoin price breaks through a new high, the head and shoulders pattern mentioned yesterday will no longer exist, but this does not mean that the original trend will continue.
Therefore, in the short term, you can temporarily lock in profits. However, judging from the current trend, this adjustment is of a minor level, and long-term investors can continue to hold positions.
After the price of Ethereum rebounded from more than 900 to more than 2000, it once again showed a sideways fluctuation pattern. Investors who have already entered the market can continue to hold positions, and stop losses appropriately when the price drops below 1900. Investors who have not entered the market can enter the market after the price breaks through 2200, which is also the point for investors who have already entered the market to increase their positions.

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.