Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-08-03)

Intraday volatility upward short-term waiting to be observed
1. Market Trends <br/>Today is August 3, 2017. The current price of Bitcoin is 18,300 yuan. Yesterday, the price of the currency fluctuated horizontally, but the center of gravity was still upward, indicating that the market is digesting negative information. In the short term, the trend is still mainly upward, but the medium and short-term trend is still unclear.
Looking at the 1-hour chart, the rebound volume has not continued to expand, and the focus should be on the direction of the price breakthrough. The MA60 of this level chart is still an effective resistance line, and the moving average system (5, 10, 20) shows a bullish arrangement after shock adjustment, and the MACD indicator shows signs of crossing the zero axis.
In addition, in the daily chart, the price of the currency has been fluctuating since July 21, and the trading volume has remained relatively high. Several attempts to attack the 19800 resistance level have failed. Before breaking through this resistance level, the short-term and medium-term adjustment trend will not be fundamentally changed.
Aggressive investors can participate in light long positions, with a take-profit position around 18600. If the price falls below the support line shown in the figure, the stop loss should be exited. Conservative investors can wait for the daily chart to go long, that is, after effectively breaking through 19800, then participate in heavy positions.

BCC currently has low computing power and is difficult to produce blocks. The price uncertainty is large and the prices on various platforms vary widely.
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.