Coin Zone Trends: Bitcoin Price Trends Based on Big Data This Week (2017-06-23)

The long-short stalemate may be approaching.
1. Market Trends <br/>Today is June 23, 2017. The current price of Bitcoin is RMB 19,749. Compared with the previous trading days, the price fluctuation of the currency yesterday was smaller, and the difference between the highest and lowest points of the day was less than 1,000 points. However, the high point of the bullish attack during the day is gradually declining, indicating that the bullish attack lacks momentum.
Looking at the 4-hour chart, the long arrangement of the moving average system (5, 10, 20) has been destroyed, and there is a tendency to stick together, and the NA60 is moving upward again. The chart at this level shows that during the shock period of the last two trading days, the lower shadow of the K line is long, indicating that the active buying force below is still strong. At the same time, both the stochastic indicator and the strength indicator form a golden cross and extend northward, and the currency price at this level is cautiously bullish.
Looking at the 1-hour chart, the MACD indicator crossed the zero axis twice, and the price of the currency broke through MA60 again. If the price of the currency falls back and confirms that this bullish breakout is effective, then the bulls may break through the 20,000 yuan mark again, reversing the current situation of being suppressed by the bears.
Overall, although the bears continued to suppress the price yesterday, causing the bulls' high point to gradually decline, it was unable to break the support area of ​​19,000 to 18,700 defended by the bulls, and the trading volume was shrinking overall during the entire adjustment period. Therefore, the tug-of-war between the bulls and bears at high levels will soon end. If the price breaks through the 20,000 pressure level, it will be bullish, and if it breaks below the above support area, it will be bearish.

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.