Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-07-04)

Strong breakthrough of resistance is expected to continue
1. Market Trends <br/>Today is July 4, 2017. The current price of Bitcoin is 18,100 yuan. The peaks and valleys of yesterday's price fluctuations were successively raised. At noon, the bulls broke through the lower pressure level of the previous shock platform. After a slight adjustment, the bulls broke through the important resistance level of 18,000 again.
Looking at the 4-hour chart, after the bulls opened five positive lines in a row, the price of the currency has broken through the previous shock platform and is shrinking and stepping back to confirm. The MACD indicator has not shown a top divergence and has a tendency to cross the zero axis. However, the price of the currency at this level is obviously suppressed by MA60, and the possibility of a correction and shock and then a breakthrough is high.
Looking at the 1-hour chart, the price of the currency broke through the resistance level and then fell into a low-volume consolidation pattern. The MACD indicator crossed the zero axis and then formed a death cross in the strong area, indicating that the bulls are accumulating strength for another upward attack.
It is normal for the price to fall into a correction pattern with shrinking volume after an upward breakthrough. It is the bulls accumulating strength to launch another attack. As long as the upward trend remains basically intact without large-scale downward adjustment, the market should wait for the bulls to launch another large-scale upward attack in the future.
In general, the market trend in the short term shows a clear trend from short to long. The bulls need to pull back to confirm after a strong attack on the upper resistance level of 18,000. The market outlook should focus on another breakthrough in large volume, while the upper short-term resistance level is 19,000. Short-term investors can buy on dips, and long-term investors should hold their positions.
2. Newcomer Index <br/>The figure below shows the Bitcoin daily newcomer index.