Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-07-05)

If the support is not broken, the rebound will continue.
1. Market Trends <br/>Today is July 5, 2017. The current price of Bitcoin is 17,923 yuan. Yesterday, the price fluctuated above the 18,000 platform with limited volatility. The highest point of the day once reached 18,555, but was quickly suppressed by the short side, indicating that there is still strong supply on the upper side.
Looking at the 4-hour chart, the price of the currency has initially stabilized above MA60, the moving average system is gradually strengthening, the MACD indicator is crossing the zero axis, and the center of gravity of the currency price is still moving upward, indicating that the strength of the bulls is gradually increasing. In addition, the price of the currency at this level has once again retreated to test the previous oscillation platform of 17500~18000. If there is no large-scale breakthrough in the future market, it is actively bullish.
Looking at the 1-hour chart, yesterday's bullish attack was strongly suppressed by the bears, and finally closed with a bearish shooting star line. Since then, the price of the currency has fallen into a shrinking and volatile pattern. We should patiently wait for the bulls to increase the volume again to push up the price of the currency. MA60 at this level is an effective support level. If the price of the currency does not effectively fall below this support level, the bullish trend remains unchanged.
In general, the market is still in a bullish trend channel, but there are many chips locked in the previous high-level shock platform, which increases the pressure on the price of the currency. The short-term upper pressure area is 19000~19500, which is a dense trading area, and the resistance is greater. At present, the price of the currency is stepping back to the support level. If the bullish trend weakens, you should avoid risks and reduce your position appropriately.

2. Price trend index "Bitcoin price trend index" is an indicator similar to the "long and short index" 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. The figure shows a 30-minute trend indicator.