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

The bulls continue to attack and short-term trend will not be broken.
1. Market Trends <br/>Today is August 8, 2017. The current price of Bitcoin is 22,600 yuan. Yesterday, the price of Bitcoin continued to rise, constantly breaking the historical high. As the price continues to rise, some bearish signals emerge. However, due to the extremely strong "inertia" of Bitcoin prices, short-term trading will not be broken.
Looking at the 1-hour chart, the small rebound in the early morning today unexpectedly showed a continuous low volume, and the MACD indicator showed a top divergence phenomenon. It is not advisable to chase high positions in the short term. However, if the price does not fall below the upward trend line shown in the figure, profits can run.
In addition, in the 4-hour chart, after the price hit a new high, a serious top divergence phenomenon occurred, the Bollinger Bands were gradually shrinking, and at the same time, the price showed signs of stagflation, and the probability of short-term adjustment was high.
For short-term investors who have already entered the market, they can pay attention to the upward trend line in the 1-hour chart and do not sell out unless it breaks. For short-term investors who have not yet entered the market, they can actively build positions around 21,500.
At present, the medium-term trend of Bitcoin prices has improved significantly. It is a wise choice to hold the spot and let the profits run. You don’t have to worry too much about short-term fluctuations. 2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" calculated by the currency zone based on the statistics of 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 the price trend.