Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-26)

The upper pressure is heavy, beware of the short side's attempt
1. Market Trends <br/>Today is June 26, 2017. The current price of Bitcoin is RMB 19,175. After the opening yesterday, the short side immediately suppressed the price of the currency, and the lowest point of the day reached 18,587. After that, the price of the currency fluctuated and rebounded. Although it wiped out the decline in the early trading, it did not break through the resistance line of the high-level oscillation platform.
Looking at the 4-hour chart, the moving average system (5, 10, 20) has turned from a short position to a sticking state, and the MACD indicator is crossing the zero axis, interrupting the bullish rebound. At present, the price of this level of currency has reappeared the trend of shrinking volume and consolidation, and we should be alert to the bears' repeated attempts to smash the market, but the mid-line support is at 16,000.
Looking at the 1-hour chart, the moving average system shows signs of forming a bullish trend. The MACD indicator has crossed the zero axis, but the MA60 is moving downward again, and the support function has weakened. Both the stochastic indicator and the strength index have formed a golden cross and extended northward, but due to the bearish pressure on the coin price yesterday, the coin price rebounded and erased the decline, resulting in the bullish trend of such relatively sensitive indicators.
In general, the bears may suppress the price of the currency at any time in the short term, and the bulls can reverse the disadvantage by pushing the price above 21,000. At present, the upper pressure is heavy, and it is unlikely that the bulls will reach a new historical high in the short term. Nevertheless, it is recommended that investors must wait for the trend to be clear before entering the market, as some investors have reversed the trend yesterday due to the bears' test, and they have lost money by rushing to buy.
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.